Aviance Capital Partners LLC Takes $487,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Aviance Capital Partners LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, Holdings Channel.com reports. The firm acquired 1,205 shares of the electric vehicle producer’s stock, valued at approximately $487,000.

A number of other large investors have also made changes to their positions in the stock. AMG National Trust Bank raised its position in shares of Tesla by 0.9% during the fourth quarter. AMG National Trust Bank now owns 4,178 shares of the electric vehicle producer’s stock valued at $1,735,000 after buying an additional 36 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of Tesla by 30.6% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 14,342 shares of the electric vehicle producer’s stock valued at $5,791,000 after buying an additional 3,364 shares during the last quarter. Berkshire Asset Management LLC PA raised its position in shares of Tesla by 4.7% during the fourth quarter. Berkshire Asset Management LLC PA now owns 1,170 shares of the electric vehicle producer’s stock valued at $476,000 after buying an additional 52 shares during the last quarter. Novus Advisors LLC acquired a new position in shares of Tesla during the fourth quarter valued at about $243,000. Finally, Acas LLC raised its position in shares of Tesla by 25.2% during the fourth quarter. Acas LLC now owns 1,136 shares of the electric vehicle producer’s stock valued at $430,000 after buying an additional 229 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $262.67 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market cap of $844.88 billion, a PE ratio of 128.76, a PEG ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm’s 50 day moving average price is $367.78 and its two-hundred day moving average price is $318.03.

Tesla (NASDAQ:TSLA) last announced 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 net margin of 7.26% and a return on equity of 10.31%. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $550.00 price objective on shares of Tesla in a research report on Friday. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and increased their price target for the stock from $180.00 to $388.00 in a research report on Friday. Canaccord Genuity Group increased their price target on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Jefferies Financial Group increased their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Nine investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $327.37.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $25,466,850. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 422,452 shares of company stock valued at $153,659,530. 20.70% of the stock is currently 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.