Bristlecone Advisors LLC Acquires 1,048 Shares of Tesla, Inc. (NASDAQ:TSLA)

Bristlecone Advisors LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,904 shares of the electric vehicle producer’s stock after acquiring an additional 1,048 shares during the period. Tesla accounts for 0.9% of Bristlecone Advisors LLC’s holdings, making the stock its 29th biggest position. Bristlecone Advisors LLC’s holdings in Tesla were worth $11,269,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Powell Investment Advisors LLC grew its holdings in Tesla by 2.8% in the 4th quarter. Powell Investment Advisors LLC now owns 5,470 shares of the electric vehicle producer’s stock valued at $2,209,000 after buying an additional 150 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV acquired a new position in Tesla in the 4th quarter valued at $256,000. Soltis Investment Advisors LLC grew its holdings in Tesla by 113.7% in the 4th quarter. Soltis Investment Advisors LLC now owns 25,658 shares of the electric vehicle producer’s stock valued at $10,362,000 after buying an additional 13,654 shares in the last quarter. Elser Financial Planning Inc acquired a new position in Tesla in the 4th quarter valued at $436,000. Finally, Opal Wealth Advisors LLC grew its holdings in Tesla by 6.3% in the 4th quarter. Opal Wealth Advisors LLC now owns 5,407 shares of the electric vehicle producer’s stock valued at $2,184,000 after buying an additional 322 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Robert W. Baird decreased their price objective on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. KGI Securities raised 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. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Monday. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group increased their target price on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $326.50.

Tesla Price Performance

Tesla stock opened at $355.94 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.14 trillion, a PE ratio of 174.48, a P/E/G ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a 50-day moving average price of $407.25 and a two-hundred day moving average price of $306.44.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 10.31% and a net margin of 7.26%. Analysts expect that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 over the last ninety days. 20.70% of the stock is owned by insiders.

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.