Magnolia Private Wealth LLC Acquires Shares of 989 Tesla, Inc. (NASDAQ:TSLA)

Magnolia Private Wealth LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, HoldingsChannel reports. The firm acquired 989 shares of the electric vehicle producer’s stock, valued at approximately $399,000.

Several other institutional investors have also added to or reduced their stakes in TSLA. Hengehold Capital Management LLC grew its stake in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI boosted its position in Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after acquiring an additional 24 shares during the last quarter. Acropolis Investment Management LLC boosted its position in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after acquiring an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its position in Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Vista Finance LLC boosted its position in Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after acquiring an additional 25 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 in the last three months. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. Benchmark began coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target on the stock. Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research report on Tuesday, February 18th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $318.77.

Tesla Trading Up 4.0 %

NASDAQ:TSLA opened at $293.33 on Friday. 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 has a market cap of $943.49 billion, a price-to-earnings ratio of 143.79, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a 50-day moving average price of $385.35 and a two-hundred day moving average price of $315.95.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 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 analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.