Ritholtz Wealth Management Buys 3,512 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ritholtz Wealth Management lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 9.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,832 shares of the electric vehicle producer’s stock after buying an additional 3,512 shares during the quarter. Ritholtz Wealth Management’s holdings in Tesla were worth $15,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Abich Financial Wealth Management LLC raised its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter worth $29,000. Clean Yield Group raised its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of Tesla during the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. boosted its holdings in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 3.1 %

Shares of NASDAQ:TSLA opened at $426.50 on Friday. The business’s 50 day moving average is $387.84 and its 200 day moving average is $286.58. The stock has a market cap of $1.37 trillion, a P/E ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

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

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. Cantor Fitzgerald raised their price objective on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Robert W. Baird boosted their target price on Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $299.33.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by corporate insiders.

Tesla 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.