Sax Wealth Advisors LLC Has $1.20 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sax Wealth Advisors LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 15.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,969 shares of the electric vehicle producer’s stock after purchasing an additional 400 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Tesla were worth $1,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wedge Capital Management L L P NC lifted its position in shares of Tesla by 27.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 3,164 shares of the electric vehicle producer’s stock valued at $1,278,000 after acquiring an additional 675 shares in the last quarter. Relyea Zuckerberg Hanson LLC lifted its holdings in shares of Tesla by 11.3% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 6,027 shares of the electric vehicle producer’s stock valued at $2,434,000 after purchasing an additional 612 shares in the last quarter. Saxon Interests Inc. acquired a new stake in shares of Tesla in the fourth quarter worth $211,000. Avanza Fonder AB purchased a new position in shares of Tesla during the fourth quarter valued at $98,957,000. Finally, Procyon Advisors LLC raised its position in Tesla by 3.9% during the fourth quarter. Procyon Advisors LLC now owns 69,827 shares of the electric vehicle producer’s stock valued at $28,199,000 after buying an additional 2,610 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were 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. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 621,886 shares of company stock valued at $213,451,751. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $426.50 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $389.94 and a 200 day simple moving average of $288.09. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for 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%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Truist Financial reaffirmed a “hold” rating and set a $360.00 target price on shares of Tesla in a research note on Thursday, January 2nd. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research report on Monday, January 6th. UBS Group boosted their price target on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday, November 25th. Finally, The Goldman Sachs Group boosted their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $299.33.

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.