Rainey & Randall Wealth Advisors Inc. Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Rainey & Randall Wealth Advisors Inc. acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, Holdings Channel.com reports. The firm acquired 513 shares of the electric vehicle producer’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after purchasing an additional 1,022,589 shares during the period. FMR LLC grew its holdings in Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after buying an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after acquiring an additional 1,294,093 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 523,386 shares of company stock valued at $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

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

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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 return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Guggenheim reiterated a “sell” rating on shares of Tesla in a research note on Tuesday. Jefferies Financial Group lifted their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Evercore ISI upped their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Barclays upped their price objective on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $319.57.

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.