DORCHESTER WEALTH MANAGEMENT Co Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,098 shares of the electric vehicle producer’s stock, valued at approximately $421,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Swedbank AB boosted its position in Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares during the period. Orrstown Financial Services Inc. boosted its position in shares of Tesla by 67.0% in the third quarter. Orrstown Financial Services Inc. now owns 3,490 shares of the electric vehicle producer’s stock valued at $913,000 after acquiring an additional 1,400 shares during the period. Pallas Capital Advisors LLC boosted its position in shares of Tesla by 37.7% in the third quarter. Pallas Capital Advisors LLC now owns 3,457 shares of the electric vehicle producer’s stock valued at $900,000 after acquiring an additional 947 shares during the period. Worth Financial Advisory Group LLC bought a new stake in shares of Tesla in the third quarter valued at about $267,000. Finally, Smith Group Asset Management LLC boosted its position in shares of Tesla by 103.3% in the third quarter. Smith Group Asset Management LLC now owns 3,306 shares of the electric vehicle producer’s stock valued at $865,000 after acquiring an additional 1,680 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Guggenheim reissued a “sell” rating on shares of Tesla in a research report on Tuesday. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $365.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $319.57.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

Tesla stock opened at $302.80 on Wednesday. The business has a 50 day moving average of $393.98 and a 200-day moving average of $315.69. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market capitalization of $973.96 billion, a P/E ratio of 148.43, a P/E/G ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.