Friedenthal Financial Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Friedenthal Financial raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 98,400.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,970 shares of the electric vehicle producer’s stock after buying an additional 1,968 shares during the period. Friedenthal Financial’s holdings in Tesla were worth $796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Eastern Bank boosted its position in Tesla by 826.4% in the 4th quarter. Eastern Bank now owns 70,918 shares of the electric vehicle producer’s stock valued at $28,640,000 after buying an additional 63,263 shares during the period. Persium Advisors LLC purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $201,000. Marshall & Sullivan Inc. WA bought a new position in Tesla in the fourth quarter worth approximately $303,000. Claro Advisors LLC increased its holdings in Tesla by 4.3% during the 4th quarter. Claro Advisors LLC now owns 15,394 shares of the electric vehicle producer’s stock worth $6,217,000 after purchasing an additional 637 shares during the period. Finally, Sivia Capital Partners LLC raised its position in Tesla by 5.5% during the 4th quarter. Sivia Capital Partners LLC now owns 11,389 shares of the electric vehicle producer’s stock valued at $4,599,000 after purchasing an additional 590 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on TSLA shares. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and raised their price target for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Cantor Fitzgerald lifted their price objective on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $296.60.

Tesla Trading Up 2.2 %

NASDAQ TSLA opened at $403.31 on Tuesday. The company has a fifty day moving average of $379.81 and a 200 day moving average of $283.29. The company has a market capitalization of $1.29 trillion, a PE ratio of 110.50, a P/E/G ratio of 10.80 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping 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 firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the company earned $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock worth $213,451,751 in the last three months. Company insiders own 20.70% of the company’s stock.

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.