Parkshore Wealth Management Inc. Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Parkshore Wealth Management Inc. acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,017 shares of the electric vehicle producer’s stock, valued at approximately $3,641,000. Tesla makes up 2.2% of Parkshore Wealth Management Inc.’s holdings, making the stock its 12th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Horrell Capital Management Inc. lifted its stake in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. boosted its position in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in shares of Tesla in the 4th quarter worth approximately $38,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Tesla during the fourth quarter worth about $39,000. Finally, Delos Wealth Advisors LLC boosted its stake in Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after purchasing an additional 75 shares during the period. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HSBC reduced their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Morgan Stanley reaffirmed a “buy” rating and set a $430.00 price target on shares of Tesla in a report on Tuesday, April 22nd. Barclays lowered their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. BNP Paribas set a $137.00 price target on Tesla and gave the company an “underperform” rating in a report on Wednesday, April 16th. Finally, Glj Research reiterated a “sell” rating and issued a $19.05 price target (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $287.46.

Tesla Stock Up 9.8 %

TSLA stock opened at $284.95 on Monday. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The stock’s 50 day simple moving average is $263.98 and its 200 day simple moving average is $323.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market cap of $916.55 billion, a P/E ratio of 139.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the business posted $0.45 earnings per share. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock worth $123,791,123 in the last three months. Insiders own 20.70% of the company’s stock.

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.