ERTS Wealth Advisors LLC Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

ERTS Wealth Advisors LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 650 shares of the electric vehicle producer’s stock, valued at approximately $262,000.

Several other institutional investors have also bought and sold shares of the business. Transcendent Capital Group LLC bought a new position in shares of Tesla in the 3rd quarter valued at about $29,000. Clean Yield Group raised its position in Tesla by 60.0% during the third 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. bought a new stake in shares of Tesla in the 3rd quarter valued at approximately $35,000. M&R Capital Management Inc. boosted its holdings in shares of 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 purchasing an additional 100 shares during the period. Finally, Quarry LP bought a new position in shares of Tesla during the 2nd quarter valued at approximately $48,000. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock valued at $212,451,751 in the last three months. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Down 1.4 %

Shares of Tesla stock opened at $406.58 on Friday. The firm has a 50-day simple moving average of $397.11 and a two-hundred day simple moving average of $292.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a market cap of $1.31 trillion, a P/E ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a report on Thursday, October 24th. Guggenheim raised their price objective on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a report on Thursday, December 5th. Finally, Morgan Stanley lifted their price objective on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $313.84.

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.