Trivant Custom Portfolio Group LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Trivant Custom Portfolio Group LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,203 shares of the electric vehicle producer’s stock after acquiring an additional 110 shares during the period. Trivant Custom Portfolio Group LLC’s holdings in Tesla were worth $486,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. LongView Wealth Management lifted its position in shares of Tesla by 12.9% during the 4th quarter. LongView Wealth Management now owns 1,909 shares of the electric vehicle producer’s stock valued at $771,000 after acquiring an additional 218 shares during the period. Brooklyn Investment Group raised its holdings in Tesla by 9.6% during the fourth quarter. Brooklyn Investment Group now owns 17,647 shares of the electric vehicle producer’s stock worth $7,127,000 after purchasing an additional 1,551 shares during the last quarter. Whitener Capital Management Inc. acquired a new stake in Tesla in the fourth quarter valued at $230,000. Defined Wealth Management LLC acquired a new stake in Tesla in the fourth quarter valued at $226,000. Finally, Sax Wealth Advisors LLC increased its position in shares of Tesla by 15.6% in the fourth quarter. Sax Wealth Advisors LLC now owns 2,969 shares of the electric vehicle producer’s stock valued at $1,199,000 after buying an additional 400 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock worth $213,451,751 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $426.50 on Monday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock’s fifty day moving average price is $389.94 and its 200-day moving average price is $288.49. The firm has a market cap of $1.37 trillion, a P/E ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the business posted $0.53 EPS. Tesla’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group upped their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Canaccord Genuity Group boosted their price target on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Guggenheim increased their price objective on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research note on Thursday, December 5th. Wedbush reissued an “outperform” rating and issued a $400.00 target price on shares of Tesla in a research note on Monday, November 18th. Finally, Barclays raised their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $299.33.

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.