Watts Gwilliam & Co. LLC Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Watts Gwilliam & Co. LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,666 shares of the electric vehicle producer’s stock after buying an additional 1,093 shares during the quarter. Tesla comprises 1.1% of Watts Gwilliam & Co. LLC’s holdings, making the stock its 21st largest position. Watts Gwilliam & Co. LLC’s holdings in Tesla were worth $5,389,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Hudson Valley Investment Advisors Inc. ADV purchased a new position in Tesla in the 4th quarter worth $557,000. Wealth Group Ltd purchased a new position in shares of Tesla in the fourth quarter worth about $275,000. Cumberland Advisors Inc. acquired a new stake in shares of Tesla during the fourth quarter worth about $267,000. First Hawaiian Bank boosted its position in Tesla by 17.2% in the fourth quarter. First Hawaiian Bank now owns 10,724 shares of the electric vehicle producer’s stock valued at $4,331,000 after buying an additional 1,573 shares during the last quarter. Finally, Private Client Services LLC acquired a new position in Tesla in the 4th quarter worth approximately $206,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TSLA shares. The Goldman Sachs Group upped their price objective on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Morgan Stanley boosted their price target on Tesla from $310.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $295.69.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction 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 approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 621,886 shares of company stock worth $213,451,751. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $394.94 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a market capitalization of $1.27 trillion, a PE ratio of 108.20, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The business has a 50 day simple moving average of $373.68 and a 200-day simple moving average of $279.12.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the business earned $0.53 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.