LJI Wealth Management LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

LJI Wealth Management LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,954 shares of the electric vehicle producer’s stock after buying an additional 84 shares during the quarter. LJI Wealth Management LLC’s holdings in Tesla were worth $789,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Transcendent Capital Group LLC purchased a new position in Tesla during the 3rd quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new position in shares of Tesla during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after purchasing an additional 187 shares in the last quarter. Finley Financial LLC purchased a new position in shares of Tesla during the fourth quarter worth about $64,000. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of Tesla by 136.4% during the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock worth $80,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, January 30th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Wednesday. UBS Group upped their target price on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research note on Thursday, January 30th. Finally, Wedbush upped their target price on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $326.50.

Tesla Price Performance

Shares of Tesla stock opened at $355.94 on Friday. The business has a 50 day moving average of $407.25 and a 200 day moving average of $306.44. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.14 trillion, a PE ratio of 174.48, a P/E/G ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current year.

About Tesla

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.