Copia Wealth Management Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Copia Wealth Management bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,415 shares of the electric vehicle producer’s stock, valued at approximately $571,000.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC raised its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. grew its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. raised its stake in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC purchased a new position in shares of Tesla during the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $362.89 on Wednesday. The company’s 50-day moving average is $281.93 and its two-hundred day moving average is $333.59. Tesla, Inc. has a 1-year low of $167.41 and a 1-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. The firm has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 177.89, a PEG ratio of 5.86 and a beta of 2.43.

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). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the company posted $0.45 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $25,466,850. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $350.11, for a total transaction of $1,050,330.00. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $9,435,464.50. This represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,623 shares of company stock worth $116,650,831 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TSLA shares. Benchmark reiterated a “buy” rating and set a $350.00 price target on shares of Tesla in a research report on Wednesday, April 23rd. Royal Bank of Canada cut their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Raymond James cut shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Finally, TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $293.97.

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.