Spectrum Planning & Advisory Services Inc. Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Spectrum Planning & Advisory Services Inc. boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,065 shares of the electric vehicle producer’s stock after purchasing an additional 45 shares during the quarter. Spectrum Planning & Advisory Services Inc.’s holdings in Tesla were worth $430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Quarry LP purchased a new position in Tesla in the second quarter worth about $48,000. Central Pacific Bank Trust Division boosted its holdings in shares of Tesla by 1,179.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 4,339 shares of the electric vehicle producer’s stock worth $1,135,000 after purchasing an additional 4,000 shares during the period. Czech National Bank increased its position in shares of Tesla by 6.9% during the 3rd quarter. Czech National Bank now owns 565,270 shares of the electric vehicle producer’s stock valued at $147,892,000 after purchasing an additional 36,544 shares during the last quarter. Curbstone Financial Management Corp bought a new stake in Tesla in the third quarter worth $470,000. Finally, Unique Wealth LLC increased its position in Tesla by 4.1% during the third quarter. Unique Wealth LLC now owns 2,111 shares of the electric vehicle producer’s stock valued at $552,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $404.60 on Friday. The stock has a market cap of $1.30 trillion, a price-to-earnings ratio of 198.33, a PEG ratio of 8.08 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a 50 day simple moving average of $403.18 and a two-hundred day simple moving average of $297.99. 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 (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. As a group, analysts predict that Tesla, Inc. will post 2.82 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a report on Monday, January 6th. HSBC reiterated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Jefferies Financial Group upped 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. Guggenheim restated a “sell” rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday. Finally, Evercore ISI upped their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Nine equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $318.31.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $300.37, for a total value of $2,402,960.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $31,548,461.84. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 553,386 shares of company stock valued at $196,305,796. 20.70% of the stock is owned by company 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.