Nova R Wealth Inc. Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

Nova R Wealth Inc. bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 538 shares of the electric vehicle producer’s stock, valued at approximately $217,000.

A number of other hedge funds have also recently modified their holdings of TSLA. Hengehold Capital Management LLC lifted its holdings in Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after acquiring an additional 24 shares during the last quarter. Strategic Investment Advisors MI lifted its holdings in Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after acquiring an additional 24 shares during the last quarter. Acropolis Investment Management LLC lifted its holdings in Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after acquiring an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD lifted its holdings in Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Prospect Financial Services LLC lifted its stake in Tesla by 0.3% during the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after buying an additional 26 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on TSLA shares. Mizuho reaffirmed an “outperform” rating and set a $515.00 price objective on shares of Tesla in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Benchmark initiated coverage on shares of Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective for the company. Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus reduced their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $326.50.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by company insiders.

Tesla Trading Down 0.0 %

Shares of TSLA stock opened at $355.84 on Tuesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $406.31 and its two-hundred day moving average is $308.78. The company has a market cap of $1.14 trillion, a PE ratio of 174.43, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. Equities analysts predict that Tesla, Inc. will post 2.54 EPS for the current year.

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.