Forbes J M & Co. LLP Buys 56 Shares of Tesla, Inc. (NASDAQ:TSLA)

Forbes J M & Co. LLP increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,684 shares of the electric vehicle producer’s stock after purchasing an additional 56 shares during the quarter. Forbes J M & Co. LLP’s holdings in Tesla were worth $5,526,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TSLA. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the third quarter worth $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares in the last quarter. Finley Financial LLC purchased a new stake in shares of Tesla in the fourth quarter worth $64,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of Tesla by 136.4% in the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock worth $80,000 after buying an additional 176 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 2.4 %

NASDAQ TSLA opened at $336.51 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $1.08 trillion, a PE ratio of 164.96, a PEG ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The business’s 50-day moving average is $407.68 and its 200 day moving average is $306.23.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, 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 635,776 shares of company stock worth $231,335,112 over the last three months. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSLA. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price objective on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their price objective on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. Wedbush increased their price objective on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Finally, The Goldman Sachs Group increased their price objective on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $326.50.

Tesla 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.