Omega Financial Group LLC Acquires New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Omega Financial Group LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 929 shares of the electric vehicle producer’s stock, valued at approximately $375,000.

Several other hedge funds have also modified their holdings of the company. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Tesla by 36.4% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 2,797 shares of the electric vehicle producer’s stock valued at $554,000 after acquiring an additional 747 shares in the last quarter. ProVise Management Group LLC increased its stake in Tesla by 12.8% during the 2nd quarter. ProVise Management Group LLC now owns 5,190 shares of the electric vehicle producer’s stock valued at $1,027,000 after purchasing an additional 588 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Tesla by 11.5% in the second quarter. Brighton Jones LLC now owns 80,872 shares of the electric vehicle producer’s stock worth $16,003,000 after buying an additional 8,343 shares during the last quarter. Ieq Capital LLC lifted its stake in shares of Tesla by 17.5% during the second quarter. Ieq Capital LLC now owns 183,349 shares of the electric vehicle producer’s stock worth $36,281,000 after buying an additional 27,296 shares during the period. Finally, GM Advisory Group LLC grew its holdings in shares of Tesla by 3.5% during the second quarter. GM Advisory Group LLC now owns 8,869 shares of the electric vehicle producer’s stock valued at $1,755,000 after buying an additional 302 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’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 transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred 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 directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 621,886 shares of company stock worth $213,451,751. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Stifel Nicolaus lifted their price target on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wedbush reiterated an “outperform” rating and issued a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Barclays upped their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday. Morgan Stanley raised their target price on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $299.33.

Tesla Trading Up 3.1 %

Shares of TSLA stock opened at $426.50 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company’s 50-day moving average price is $387.84 and its 200-day moving average price is $286.58. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30.

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

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.