NewEdge Wealth LLC Has $18.74 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

NewEdge Wealth LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 46,400 shares of the electric vehicle producer’s stock after buying an additional 1,082 shares during the period. NewEdge Wealth LLC’s holdings in Tesla were worth $18,738,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TSLA. Hengehold Capital Management LLC boosted its holdings in Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI boosted its holdings in Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the last quarter. Acropolis Investment Management LLC boosted its holdings in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD raised its position in Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the period. Finally, Vista Finance LLC raised its position in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after acquiring an additional 25 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $293.33 on Friday. The company’s fifty day moving average price is $385.35 and its 200-day moving average price is $315.95. The firm has a market capitalization of $943.49 billion, a price-to-earnings ratio of 143.79, a PEG ratio of 5.86 and a beta of 2.34. 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 current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 in the last quarter. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of several research reports. Barclays lifted their price objective on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Jefferies Financial Group lifted their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Ten research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $318.77.

About Tesla

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.