Core Wealth Advisors Inc. Purchases Shares of 692 Tesla, Inc. (NASDAQ:TSLA)

Core Wealth Advisors Inc. acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 692 shares of the electric vehicle producer’s stock, valued at approximately $279,000.

A number of other large investors also recently modified their holdings of TSLA. Principal Financial Group Inc. grew its stake in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares in the last quarter. McIlrath & Eck LLC grew its position in shares of Tesla by 6.0% during the third quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer’s stock valued at $890,000 after purchasing an additional 192 shares in the last quarter. Advisory Resource Group lifted its position in shares of Tesla by 1.2% in the third quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer’s stock worth $1,115,000 after buying an additional 50 shares in the last quarter. Morse Asset Management Inc boosted its stake in Tesla by 46.0% during the third quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer’s stock valued at $2,279,000 after buying an additional 2,743 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its holdings in Tesla by 31.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 5,579 shares of the electric vehicle producer’s stock valued at $1,460,000 after buying an additional 1,334 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla 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 of the company’s stock, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock valued at $123,791,123 over the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 3.5 %

Shares of TSLA stock opened at $259.51 on Friday. The stock’s fifty day moving average price is $265.36 and its 200 day moving average price is $322.18. Tesla, Inc. has a 1-year low of $158.36 and a 1-year high of $488.54. The company has a market cap of $834.72 billion, a price-to-earnings ratio of 127.21, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. 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 posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for 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 last year, the company earned $0.45 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. HSBC cut their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Barclays lowered their price target on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday. Bank of America reduced their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Cfra Research cut Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a sell rating, ten have assigned 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 has an average rating of “Hold” and an average price target of $287.46.

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.