Pines Wealth Management LLC Purchases Shares of 5,236 Tesla, Inc. (NASDAQ:TSLA)

Pines Wealth Management LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,236 shares of the electric vehicle producer’s stock, valued at approximately $2,067,000. Tesla makes up 0.9% of Pines Wealth Management LLC’s holdings, making the stock its 24th largest holding.

Other institutional investors have also modified their holdings of the company. Bradley Foster & Sargent Inc. CT boosted its position in shares of Tesla by 36.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 2,797 shares of the electric vehicle producer’s stock valued at $554,000 after purchasing an additional 747 shares in the last quarter. RPg Family Wealth Advisory LLC lifted its stake in Tesla by 5.9% during the second quarter. RPg Family Wealth Advisory LLC now owns 2,766 shares of the electric vehicle producer’s stock valued at $547,000 after purchasing an additional 155 shares during the last quarter. Meridian Wealth Partners LLC boosted its holdings in Tesla by 2.0% during the second quarter. Meridian Wealth Partners LLC now owns 2,915 shares of the electric vehicle producer’s stock worth $577,000 after buying an additional 57 shares in the last quarter. Lingotto Investment Management LLP grew its position in Tesla by 86.5% in the second quarter. Lingotto Investment Management LLP now owns 75,461 shares of the electric vehicle producer’s stock worth $14,932,000 after buying an additional 35,000 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Tesla by 14.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 314,477 shares of the electric vehicle producer’s stock valued at $62,297,000 after acquiring an additional 39,664 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

TSLA opened at $428.22 on Thursday. The stock has a 50-day moving average of $382.71 and a 200-day moving average of $284.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a market cap of $1.37 trillion, a PE ratio of 117.32, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (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 firm had revenue of $25.18 billion during 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 company’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TSLA shares. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. UBS Group boosted their price objective on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a report on Monday, November 25th. 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 report on Monday, January 6th. HSBC restated a “reduce” rating and set a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Finally, Wells Fargo & Company raised their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus 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.