Northeast Financial Group Inc. Makes New $253,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Northeast Financial Group Inc. acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 627 shares of the electric vehicle producer’s stock, valued at approximately $253,000.

A number of other large investors have also added to or reduced their stakes in the company. World Investment Advisors LLC increased its position in shares of Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after purchasing an additional 184,459 shares during the last quarter. Destination Wealth Management increased its position in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd increased its position in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the last quarter. MML Investors Services LLC increased its position 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 valued at $80,944,000 after purchasing an additional 9,919 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after purchasing an additional 1,741 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $300.37, for a total value of $2,402,960.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $31,548,461.84. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,386 shares of company stock worth $196,305,796 over the last three months. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on TSLA. 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. Canaccord Genuity Group upped their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Finally, Glj Research reaffirmed a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $318.31.

Tesla Trading Up 1.1 %

Tesla stock opened at $404.60 on Monday. The stock has a 50-day moving average of $404.22 and a two-hundred day moving average of $299.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market cap of $1.30 trillion, a PE ratio of 198.33, a price-to-earnings-growth ratio of 8.08 and a beta of 2.30. Tesla, Inc. has a one year low of $138.80 and a one year 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. On average, research analysts anticipate that Tesla, Inc. will post 2.82 EPS for the current fiscal year.

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.