BCS Wealth Management Has $601,000 Position in Tesla, Inc. (NASDAQ:TSLA)

BCS Wealth Management cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,489 shares of the electric vehicle producer’s stock after selling 51 shares during the quarter. BCS Wealth Management’s holdings in Tesla were worth $601,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Sentinel Pension Advisors Inc. acquired a new stake in shares of Tesla in the 4th quarter valued at $230,000. Tsfg LLC raised its holdings in Tesla by 3.1% during the fourth quarter. Tsfg LLC now owns 13,293 shares of the electric vehicle producer’s stock valued at $5,368,000 after buying an additional 402 shares in the last quarter. Signet Financial Management LLC lifted its position in shares of Tesla by 16.0% in the fourth quarter. Signet Financial Management LLC now owns 1,661 shares of the electric vehicle producer’s stock worth $671,000 after buying an additional 229 shares during the last quarter. PFW Advisors LLC bought a new stake in shares of Tesla during the 4th quarter worth about $829,000. Finally, Courier Capital LLC increased its holdings in shares of Tesla by 395.4% during the 4th quarter. Courier Capital LLC now owns 4,954 shares of the electric vehicle producer’s stock valued at $2,001,000 after acquiring an additional 3,954 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Tesla stock opened at $403.31 on Tuesday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a fifty day moving average price of $379.81 and a two-hundred day moving average price of $283.29. The firm has a market capitalization of $1.29 trillion, a P/E ratio of 110.50, a P/E/G ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. As a group, analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Jefferies Financial Group boosted their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $230.00 to $515.00 in a report on Tuesday, December 17th. JPMorgan Chase & Co. lifted their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group upped their price target on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $296.60.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock valued at $213,451,751 in the last three months. 20.70% 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.