Pure Financial Advisors LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Pure Financial Advisors LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,554 shares of the electric vehicle producer’s stock after purchasing an additional 599 shares during the quarter. Pure Financial Advisors LLC’s holdings in Tesla were worth $9,916,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Abich Financial Wealth Management LLC boosted its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Tesla during the third quarter valued at about $29,000. Clean Yield Group boosted its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Tesla in the 3rd quarter worth about $35,000. Finally, M&R Capital Management Inc. increased its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $415.11 on Thursday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a fifty day moving average of $393.38 and a 200-day moving average of $291.27. The company has a market capitalization of $1.33 trillion, a P/E ratio of 113.73, a P/E/G ratio of 8.60 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald upped their target price on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Guggenheim upped their price objective on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research note on Thursday, December 5th. Canaccord Genuity Group lifted their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Finally, Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $309.48.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock worth $212,451,751 in the last quarter. 20.70% of the stock is owned by 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.