Marks Group Wealth Management Inc Has $1.99 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Marks Group Wealth Management Inc reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,023 shares of the electric vehicle producer’s stock after selling 315 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Tesla were worth $1,994,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mount Vernon Associates Inc. MD lifted its holdings in Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after purchasing an additional 350 shares during the last quarter. Oak Ridge Investments LLC lifted its holdings in Tesla by 4.6% in the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after purchasing an additional 1,405 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Tesla by 3.7% in the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after purchasing an additional 25,943 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after buying an additional 6,615 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after buying an additional 81,729 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 2.3 %

NASDAQ:TSLA traded up $3.29 during mid-day trading on Tuesday, hitting $145.34. The company had a trading volume of 71,126,975 shares, compared to its average volume of 101,291,602. The business’s fifty day moving average is $177.59 and its two-hundred day moving average is $210.05. The firm has a market cap of $462.88 billion, a P/E ratio of 33.81, a P/E/G ratio of 3.89 and a beta of 2.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TSLA shares. Guggenheim reiterated a “sell” rating and set a $122.00 price target on shares of Tesla in a report on Tuesday. Redburn Atlantic started coverage on Tesla in a report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price target for the company. JPMorgan Chase & Co. cut their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. China Renaissance began coverage on Tesla in a report on Monday, February 26th. They set a “hold” rating for the company. Finally, Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research report on Friday. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $194.33.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last 90 days. 20.90% of the stock is owned by corporate insiders.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.