Genesis Private Wealth LLC Invests $584,000 in Tesla, Inc. (NASDAQ:TSLA)

Genesis Private Wealth LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,446 shares of the electric vehicle producer’s stock, valued at approximately $584,000.

Several other institutional investors also recently added to or reduced their stakes in TSLA. World Investment Advisors LLC grew its position in 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 worth $52,124,000 after purchasing an additional 184,459 shares during the last quarter. Destination Wealth Management increased its position in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares during the period. Vinva Investment Management Ltd lifted its position in Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares during the period. MML Investors Services LLC grew its stake in shares of Tesla by 3.3% in 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 holdings in shares of Tesla by 1.2% in the third 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 period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $406.58 on Friday. The firm has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The company has a 50 day moving average price of $397.11 and a 200 day moving average price of $292.97. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last issued its 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 for the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the company posted $0.53 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock worth $212,451,751 over the last three months. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TSLA shares. Wedbush boosted their price objective on shares of Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. Glj Research reaffirmed a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Friday, January 3rd. Royal Bank of Canada increased their target price on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, fifteen have issued 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 price target of $313.84.

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.