Obermeyer Wealth Partners Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Obermeyer Wealth Partners lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,269 shares of the electric vehicle producer’s stock after acquiring an additional 52 shares during the period. Obermeyer Wealth Partners’ holdings in Tesla were worth $512,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hengehold Capital Management LLC lifted its stake in Tesla by 1.8% in 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 lifted its stake in Tesla by 0.3% in 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 lifted its stake in Tesla by 0.9% in 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 lifted its stake 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 purchasing an additional 25 shares during the last quarter. Finally, Vista Finance LLC lifted its stake 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 purchasing an additional 25 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 4.9%

NASDAQ:TSLA opened at $334.07 on Wednesday. The company’s 50 day moving average price is $260.85 and its 200-day moving average price is $328.28. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. 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 cap of $1.08 trillion, a price-to-earnings ratio of 163.76, a PEG ratio of 5.86 and a beta of 2.43.

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

Analysts Set New Price Targets

Several brokerages have recently commented on TSLA. Roth Mkm lowered their price objective on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and upped their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Wedbush reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Tesla in a research note on Thursday, May 1st. Wells Fargo & Company lowered their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Finally, Glj Research reaffirmed a “sell” rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $287.46.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $25,466,850. The trade was a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 412,623 shares of company stock valued at $115,600,501 in the last 90 days. Company insiders own 20.70% of the company’s stock.

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.