McElhenny Sheffield Capital Management LLC Buys 587 Shares of Tesla, Inc. (NASDAQ:TSLA)

McElhenny Sheffield Capital Management LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 54.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,657 shares of the electric vehicle producer’s stock after acquiring an additional 587 shares during the quarter. Tesla accounts for about 0.2% of McElhenny Sheffield Capital Management LLC’s investment portfolio, making the stock its 25th largest position. McElhenny Sheffield Capital Management LLC’s holdings in Tesla were worth $669,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Mission Hills Financial Advisory LLC purchased a new position in shares of Tesla in the 4th quarter worth about $245,000. Oak Ridge Investments LLC boosted its holdings in shares of Tesla by 6.0% in the 4th quarter. Oak Ridge Investments LLC now owns 40,815 shares of the electric vehicle producer’s stock worth $16,483,000 after purchasing an additional 2,312 shares in the last quarter. GenWealth Group Inc. purchased a new position in shares of Tesla in the 4th quarter worth about $213,000. Aaron Wealth Advisors LLC boosted its holdings in shares of Tesla by 25.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 13,410 shares of the electric vehicle producer’s stock worth $5,415,000 after purchasing an additional 2,680 shares in the last quarter. Finally, Whitaker Myers Wealth Managers LTD. boosted its holdings in shares of Tesla by 4.2% in the 4th quarter. Whitaker Myers Wealth Managers LTD. now owns 4,529 shares of the electric vehicle producer’s stock worth $1,829,000 after purchasing an additional 183 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Robert W. Baird increased their target price on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a report on Thursday, October 24th. Canaccord Genuity Group increased their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $299.33.

Tesla Trading Up 3.1 %

TSLA stock opened at $426.50 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30. The business’s 50-day moving average is $389.94 and its 200 day moving average is $288.78.

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

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company’s stock.

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.