EWG Elevate Inc. Has $1.48 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

EWG Elevate Inc. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.5% in the fourth quarter, Holdings Channel reports. The fund owned 3,669 shares of the electric vehicle producer’s stock after acquiring an additional 159 shares during the period. EWG Elevate Inc.’s holdings in Tesla were worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter valued at approximately $29,000. Clean Yield Group lifted its position in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the 3rd quarter worth approximately $35,000. Finally, M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 621,886 shares of company stock worth $213,451,751. Insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.1 %

Shares of NASDAQ TSLA opened at $394.74 on Monday. The company’s 50 day simple moving average is $376.60 and its 200 day simple moving average is $281.84. 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. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 108.15, a P/E/G ratio of 10.80 and a beta of 2.30.

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

Analyst Ratings Changes

TSLA has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday. Canaccord Genuity Group upped their target price on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Guggenheim raised their price target on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Finally, StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $296.60.

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.