Nicholson Wealth Management Group LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Nicholson Wealth Management Group LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,418 shares of the electric vehicle producer’s stock, valued at approximately $371,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank & Trust Co purchased a new position in shares of Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Clean Yield Group raised its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. lifted its holdings in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Up 21.9 %

NASDAQ:TSLA opened at $260.48 on Friday. The firm has a market capitalization of $832.14 billion, a P/E ratio of 73.17, a PEG ratio of 6.24 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The company’s 50-day simple moving average is $228.54 and its 200 day simple moving average is $206.41.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on TSLA. The Goldman Sachs Group raised their price target on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a report on Thursday. Wells Fargo & Company upped their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday. Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Finally, Wolfe Research started coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $218.18.

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.