Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Fortress Wealth Management Inc.

Fortress Wealth Management Inc. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,762 shares of the electric vehicle producer’s stock after buying an additional 401 shares during the period. Fortress Wealth Management Inc.’s holdings in Tesla were worth $712,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in Tesla in the 2nd quarter valued at $48,000. Central Pacific Bank Trust Division raised its position in shares of Tesla by 1,179.9% in the third quarter. Central Pacific Bank Trust Division now owns 4,339 shares of the electric vehicle producer’s stock valued at $1,135,000 after buying an additional 4,000 shares during the last quarter. Czech National Bank boosted its position in Tesla by 6.9% during the third quarter. Czech National Bank now owns 565,270 shares of the electric vehicle producer’s stock worth $147,892,000 after acquiring an additional 36,544 shares during the last quarter. Curbstone Financial Management Corp purchased a new stake in Tesla during the 3rd quarter valued at about $470,000. Finally, Unique Wealth LLC raised its holdings in Tesla by 4.1% in the 3rd quarter. Unique Wealth LLC now owns 2,111 shares of the electric vehicle producer’s stock valued at $552,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 1.1 %

Shares of NASDAQ:TSLA opened at $404.60 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm’s 50 day moving average price is $403.18 and its 200 day moving average price is $297.99. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.30 trillion, a price-to-earnings ratio of 198.33, a price-to-earnings-growth ratio of 8.08 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.54%. As a group, equities research analysts predict that Tesla, Inc. will post 2.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TSLA shares. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Robert W. Baird dropped their target price on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday. Finally, New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $318.31.

Insiders Place Their Bets

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. 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 stock in a transaction that occurred on Monday, January 6th. The shares were 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 in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,386 shares of company stock valued at $196,305,796 in the last ninety days. Insiders own 20.70% of the company’s stock.

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.