660 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Cumberland Advisors Inc.

Cumberland Advisors Inc. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 660 shares of the electric vehicle producer’s stock, valued at approximately $267,000.

Other hedge funds also recently bought and sold shares of the company. First Hawaiian Bank boosted its holdings in Tesla by 17.2% in the 4th quarter. First Hawaiian Bank now owns 10,724 shares of the electric vehicle producer’s stock valued at $4,331,000 after purchasing an additional 1,573 shares during the last quarter. Private Client Services LLC purchased a new stake in Tesla in the fourth quarter valued at $206,000. Fulton Bank N.A. grew its holdings in shares of Tesla by 18.6% during the 4th quarter. Fulton Bank N.A. now owns 25,865 shares of the electric vehicle producer’s stock worth $10,445,000 after purchasing an additional 4,059 shares during the period. Hilltop Wealth Advisors LLC purchased a new stake in Tesla in the 4th quarter valued at about $211,000. Finally, Worth Asset Management LLC lifted its position in Tesla by 383.1% in the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer’s stock valued at $3,358,000 after buying an additional 6,593 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA traded up $0.58 on Wednesday, hitting $394.94. 72,749,782 shares of the company’s stock were exchanged, compared to its average volume of 87,590,609. The firm’s 50-day moving average price is $368.03 and its two-hundred day moving average price is $277.49. The firm has a market cap of $1.27 trillion, a price-to-earnings ratio of 108.20, a P/E/G ratio of 10.80 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 EPS. On average, research analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 514,886 shares of company stock valued at $169,393,831 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group lifted their price target on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research report on Monday, November 25th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $400.00 to $490.00 in a report on Tuesday. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $295.69.

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.