MRA Advisory Group Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

MRA Advisory Group purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,272 shares of the electric vehicle producer’s stock, valued at approximately $514,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Shira Ridge Wealth Management lifted its holdings in shares of Tesla by 11.8% in the 4th quarter. Shira Ridge Wealth Management now owns 956 shares of the electric vehicle producer’s stock worth $386,000 after purchasing an additional 101 shares during the last quarter. Professional Financial Advisors LLC lifted its stake in Tesla by 2.9% in the fourth quarter. Professional Financial Advisors LLC now owns 1,885 shares of the electric vehicle producer’s stock valued at $761,000 after buying an additional 53 shares during the last quarter. Gleason Group Inc. boosted its holdings in shares of Tesla by 21.8% during the fourth quarter. Gleason Group Inc. now owns 3,034 shares of the electric vehicle producer’s stock valued at $1,225,000 after acquiring an additional 544 shares during the period. AAFMAA Wealth Management & Trust LLC bought a new position in shares of Tesla during the fourth quarter worth about $497,000. Finally, Cullen Investment Group LTD. increased its holdings in shares of Tesla by 1.4% in the 4th quarter. Cullen Investment Group LTD. now owns 3,439 shares of the electric vehicle producer’s stock worth $1,389,000 after acquiring an additional 48 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on 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 sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % 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 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 1.7 %

Tesla stock opened at $396.36 on Wednesday. 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 firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.59, a P/E/G ratio of 10.80 and a beta of 2.30. The company has a 50 day moving average price of $382.71 and a 200 day moving average price of $284.69.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating 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%. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on TSLA. Glj Research restated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research report on Friday, January 3rd. Stifel Nicolaus raised their target price on Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Canaccord Genuity Group raised their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company upped their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $296.60.

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.