Acorn Wealth Advisors LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Acorn Wealth Advisors LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,865 shares of the electric vehicle producer’s stock after purchasing an additional 73 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Tesla were worth $753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. World Investment Advisors LLC lifted its holdings in shares of Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Destination Wealth Management lifted its stake in Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Stephens Consulting LLC boosted its position in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares during the period. Vinva Investment Management Ltd raised its holdings in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares during the period. Finally, MML Investors Services LLC lifted its stake in shares of Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after acquiring an additional 9,919 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 3.0 %

Tesla stock opened at $281.95 on Friday. The business’s 50-day simple moving average is $387.91 and its two-hundred day simple moving average is $315.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market cap of $906.90 billion, a PE ratio of 138.21, a PEG ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued 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 10.31% and a net margin of 7.26%. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction 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. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 over the last three months. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on TSLA. Robert W. Baird cut their price objective on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Wells Fargo & Company raised their price target on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, January 30th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Jefferies Financial Group upped their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Finally, Evercore ISI lifted their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $319.57.

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.