Pacific Wealth Strategies Group Inc. Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Pacific Wealth Strategies Group Inc. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,602 shares of the electric vehicle producer’s stock after purchasing an additional 155 shares during the period. Pacific Wealth Strategies Group Inc.’s holdings in Tesla were worth $647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. bought a new position in Tesla during the 3rd quarter valued at $35,000. Finley Financial LLC bought a new position in Tesla during the 4th quarter valued at $64,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Tesla by 692.6% during the 3rd 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. Finally, Crews Bank & Trust bought a new stake in shares of Tesla during the 4th quarter worth $91,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. The trade was a 6.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 635,776 shares of company stock worth $231,335,112. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Mizuho reaffirmed an “outperform” rating and issued a $515.00 price target on shares of Tesla in a research report on Thursday, January 30th. The Goldman Sachs Group raised their price target on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday. Finally, 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, October 24th. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $326.50.

Tesla Stock Performance

Shares of Tesla stock opened at $336.51 on Thursday. The firm has a fifty day moving average of $407.68 and a two-hundred day moving average of $306.23. The stock has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 164.96, a PEG ratio of 6.22 and a beta of 2.34. 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 1.61 and a current ratio of 2.02.

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

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.