Innova Wealth Partners Makes New $415,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Innova Wealth Partners purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,027 shares of the electric vehicle producer’s stock, valued at approximately $415,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in Tesla by 39.9% in the 2nd quarter. Acadian Asset Management LLC now owns 61,681 shares of the electric vehicle producer’s stock worth $12,202,000 after purchasing an additional 17,592 shares during the last quarter. Cahill Financial Advisors Inc. raised its position in shares of Tesla by 14.8% in the second quarter. Cahill Financial Advisors Inc. now owns 1,485 shares of the electric vehicle producer’s stock valued at $294,000 after purchasing an additional 192 shares during the period. Global X Japan Co. Ltd. boosted its holdings in shares of Tesla by 114.0% during the 2nd quarter. Global X Japan Co. Ltd. now owns 141,779 shares of the electric vehicle producer’s stock worth $28,055,000 after buying an additional 75,526 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in Tesla by 20.6% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 16,041 shares of the electric vehicle producer’s stock valued at $3,174,000 after buying an additional 2,745 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in Tesla by 1.3% in the 2nd quarter. Royal London Asset Management Ltd. now owns 1,249,816 shares of the electric vehicle producer’s stock worth $247,314,000 after acquiring an additional 16,451 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. Robert W. Baird upped their price target on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a research note on Friday, January 3rd. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Jefferies Financial Group increased their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Finally, KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $295.69.

Tesla Stock Down 4.1 %

NASDAQ TSLA opened at $394.36 on Wednesday. The stock’s 50 day simple moving average is $368.03 and its 200 day simple moving average is $277.49. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a market cap of $1.27 trillion, a PE ratio of 108.04, a price-to-earnings-growth 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 (NASDAQ:TSLA) last announced 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 company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders sold 514,886 shares of company stock worth $169,393,831. 20.70% of the stock is currently owned by corporate insiders.

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.