Ashton Thomas Private Wealth LLC Grows Holdings in Tesla, Inc. (NASDAQ:TSLA)

Ashton Thomas Private Wealth LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 116.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,756 shares of the electric vehicle producer’s stock after purchasing an additional 5,776 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Tesla were worth $4,344,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after purchasing an additional 1,022,589 shares in the last quarter. FMR LLC increased its stake in Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after buying an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after buying an additional 780,026 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after acquiring an additional 1,294,093 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TSLA. Stifel Nicolaus decreased their target price on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a report on Monday, February 10th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a research note on Monday, January 6th. Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Wednesday, February 12th. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $327.37.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s 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 transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 422,452 shares of company stock worth $153,659,530 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $262.67 on Friday. The business has a 50 day simple moving average of $367.78 and a 200-day simple moving average of $318.03. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $844.88 billion, a PE ratio of 128.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities analysts predict that Tesla, Inc. will post 2.56 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.