IMZ Advisory Inc Acquires Shares of 506 Tesla, Inc. (NASDAQ:TSLA)

IMZ Advisory Inc bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 506 shares of the electric vehicle producer’s stock, valued at approximately $204,000.

A number of other hedge funds also recently made changes to their positions in TSLA. GSG Advisors LLC increased its stake in Tesla by 2.5% in the 4th quarter. GSG Advisors LLC now owns 1,856 shares of the electric vehicle producer’s stock worth $750,000 after acquiring an additional 46 shares during the last quarter. MRA Advisory Group purchased a new position in shares of Tesla in the fourth quarter valued at $514,000. Shira Ridge Wealth Management increased its position in Tesla by 11.8% in the fourth quarter. Shira Ridge Wealth Management now owns 956 shares of the electric vehicle producer’s stock worth $386,000 after purchasing an additional 101 shares during the last quarter. Professional Financial Advisors LLC raised its position in shares of Tesla by 2.9% during the 4th quarter. Professional Financial Advisors LLC now owns 1,885 shares of the electric vehicle producer’s stock valued at $761,000 after buying an additional 53 shares in the last quarter. Finally, Gleason Group Inc. raised its position in Tesla by 21.8% during the fourth quarter. Gleason Group Inc. now owns 3,034 shares of the electric vehicle producer’s stock valued at $1,225,000 after purchasing an additional 544 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA opened at $396.36 on Wednesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a fifty day moving average price of $382.71 and a 200-day moving average price of $284.69. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.27 trillion, a PE ratio of 108.59, a P/E/G ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the company earned $0.53 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a research note on Thursday, October 24th. Canaccord Genuity Group raised their target price on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada upped their price target on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Barclays raised their price objective on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $296.60.

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.