Pacific Wealth Strategies Group Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 93.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,277 shares of the electric vehicle producer’s stock after acquiring an additional 617 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in Tesla were worth $1,124,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. City Holding Co. purchased a new position in shares of Tesla during the third quarter worth approximately $26,000. Clean Yield Group raised its stake in shares of Tesla by 400.0% during the third quarter. Clean Yield Group now owns 60 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 48 shares in the last quarter. Horan Securities Inc. raised its stake in shares of Tesla by 140.0% during the third quarter. Horan Securities Inc. now owns 60 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 35 shares in the last quarter. JJJ Advisors Inc. raised its stake in shares of Tesla by 164.0% during the third quarter. JJJ Advisors Inc. now owns 64 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 164 shares in the last quarter. Finally, NewSquare Capital LLC raised its stake in shares of Tesla by 220.0% during the third quarter. NewSquare Capital LLC now owns 64 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 44 shares in the last quarter. 48.22% of the stock is currently owned by hedge funds and other institutional investors.
In other Tesla news, CAO Vaibhav Taneja sold 4,463 shares of the business’s stock in a transaction dated Wednesday, January 6th. The stock was sold at an average price of $762.99, for a total value of $3,405,224.37. Following the completion of the transaction, the chief accounting officer now owns 16,728 shares of the company’s stock, valued at approximately $12,763,296.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Andrew D. Baglino sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $424.60, for a total value of $4,246,000.00. Following the completion of the transaction, the senior vice president now directly owns 29,837 shares of the company’s stock, valued at approximately $12,668,790.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,643 shares of company stock valued at $92,195,056. 23.00% of the stock is owned by insiders.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.54. The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.29 billion. Tesla had a return on equity of 4.19% and a net margin of 1.43%. During the same quarter in the previous year, the firm earned $0.37 EPS. Analysts predict that Tesla, Inc. will post 0.62 earnings per share for the current year.
Several research analysts have recently issued reports on TSLA shares. BNP Paribas cut shares of Tesla from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $385.00 to $340.00 in a report on Tuesday, January 5th. Jefferies Financial Group cut shares of Tesla from a “buy” rating to a “hold” rating in a report on Thursday, December 10th. Canaccord Genuity raised their target price on shares of Tesla from $377.00 to $419.00 and gave the stock a “hold” rating in a report on Thursday, October 22nd. Cfra cut shares of Tesla from a “strong-buy” rating to a “hold” rating in a report on Friday, December 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Tesla from $90.00 to $105.00 and gave the stock an “underweight” rating in a report on Monday, January 4th. Twelve research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $325.36.
Tesla Company Profile
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive; and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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