Parisi Gray Wealth Management Has $4.44 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Parisi Gray Wealth Management raised its position in Tesla, Inc. (NASDAQ:TSLA) by 2.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,989 shares of the electric vehicle producer’s stock after acquiring an additional 211 shares during the period. Tesla comprises 1.4% of Parisi Gray Wealth Management’s portfolio, making the stock its 20th biggest position. Parisi Gray Wealth Management’s holdings in Tesla were worth $4,438,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Pallas Capital Advisors LLC lifted its position in shares of Tesla by 86.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 6,437 shares of the electric vehicle producer’s stock worth $2,600,000 after purchasing an additional 2,980 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in Tesla by 47.5% during the 4th quarter. Miracle Mile Advisors LLC now owns 36,819 shares of the electric vehicle producer’s stock worth $14,869,000 after buying an additional 11,865 shares in the last quarter. Northstar Advisory Group LLC boosted its stake in shares of Tesla by 5.2% during the 4th quarter. Northstar Advisory Group LLC now owns 7,293 shares of the electric vehicle producer’s stock worth $2,945,000 after buying an additional 362 shares during the last quarter. Conrad Siegel Investment Advisors Inc. grew its holdings in shares of Tesla by 15.6% in the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 942 shares of the electric vehicle producer’s stock valued at $380,000 after acquiring an additional 127 shares in the last quarter. Finally, Horizon Wealth Management LLC raised its holdings in Tesla by 29.8% during the fourth quarter. Horizon Wealth Management LLC now owns 5,776 shares of the electric vehicle producer’s stock worth $2,333,000 after acquiring an additional 1,327 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $403.31 on Tuesday. The company’s 50 day simple moving average is $379.81 and its 200 day simple moving average is $283.29. 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. The stock has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 110.50, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned $0.53 EPS. Tesla’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Barclays upped their price target on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Piper Sandler upped their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group boosted their price target on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $296.60.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their position. 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. 20.70% of the stock is currently owned by insiders.

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.