660 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Cumberland Advisors Inc.

Cumberland Advisors Inc. acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 660 shares of the electric vehicle producer’s stock, valued at approximately $267,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter valued at approximately $29,000. Clean Yield Group raised its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in shares of Tesla during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 514,886 shares of company stock worth $169,393,831. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA traded up $0.58 during trading hours on Wednesday, reaching $394.94. The stock had a trading volume of 72,749,782 shares, compared to its average volume of 87,590,609. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market cap of $1.27 trillion, a P/E ratio of 108.20, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The stock has a fifty day moving average of $368.03 and a 200 day moving average of $277.49.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research reports. The Goldman Sachs Group boosted their price target on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Finally, Evercore ISI lifted their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $295.69.

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.