Waterfront Wealth Inc. Acquires 49 Shares of Tesla, Inc. (NASDAQ:TSLA)

Waterfront Wealth Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,578 shares of the electric vehicle producer’s stock after purchasing an additional 49 shares during the period. Waterfront Wealth Inc.’s holdings in Tesla were worth $1,849,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Hengehold Capital Management LLC raised its stake in Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after buying an additional 24 shares during the period. Strategic Investment Advisors MI raised its stake in Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after buying an additional 24 shares during the period. Acropolis Investment Management LLC raised its stake in Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD raised its stake in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after buying an additional 25 shares during the period. Finally, Vista Finance LLC raised its stake in Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after buying an additional 25 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $337.80 on Monday. The stock has a fifty day simple moving average of $400.17 and a two-hundred day simple moving average of $314.04. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This trade represents a 4.88 % 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, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 over the last three months. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSLA. Mizuho reaffirmed an “outperform” rating and set a $515.00 price target on shares of Tesla in a research note on Thursday, January 30th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Wells Fargo & Company increased their price objective on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, January 30th. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $319.57.

Tesla 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.