Strategic Financial Concepts LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Strategic Financial Concepts LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 36,790.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,660,672 shares of the electric vehicle producer’s stock after buying an additional 8,637,195 shares during the quarter. Tesla comprises approximately 6.7% of Strategic Financial Concepts LLC’s investment portfolio, making the stock its 2nd biggest holding. Strategic Financial Concepts LLC’s holdings in Tesla were worth $3,497,526,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter valued at approximately $35,000. Finley Financial LLC acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $64,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares during the last quarter. Finally, Crews Bank & Trust acquired a new position in Tesla during the fourth quarter worth $91,000. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 635,776 shares of company stock valued at $231,335,112. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 3.0 %

TSLA opened at $350.73 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 171.93, a P/E/G ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a 50-day simple moving average of $408.27 and a 200 day simple moving average of $304.55.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. Analysts predict that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TSLA shares. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a report on Friday, January 3rd. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $321.71.

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.