Hohimer Wealth Management LLC Has $2.26 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Hohimer Wealth Management LLC boosted its position in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 201.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,535 shares of the electric vehicle producer’s stock after purchasing an additional 5,707 shares during the period. Hohimer Wealth Management LLC’s holdings in Tesla were worth $2,264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TSLA. Axiom Financial Strategies LLC lifted its holdings in Tesla by 9.8% in the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after buying an additional 81 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after purchasing an additional 164,789 shares during the period. MAS Advisors LLC raised its holdings in shares of Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after purchasing an additional 81 shares during the period. Ergoteles LLC raised its holdings in shares of Tesla by 33.4% during the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after purchasing an additional 893 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Tesla by 6.8% during the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after purchasing an additional 4,593 shares during the period. Institutional investors and hedge funds own 43.00% of the company’s stock.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the sale, the senior vice president now directly owns 62,988 shares in the company, valued at approximately $14,484,090.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the sale, the senior vice president now directly owns 62,988 shares in the company, valued at approximately $14,484,090.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Kirkhorn sold 3,752 shares of the stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total transaction of $410,131.12. Following the completion of the sale, the chief financial officer now owns 200,411 shares in the company, valued at $21,906,926.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,172,833 shares of company stock worth $4,492,567,309. 25.10% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $143.89 on Wednesday. The stock has a market capitalization of $454.37 billion, a P/E ratio of 44.46, a PEG ratio of 1.18 and a beta of 2.02. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $148.77 and its 200 day moving average is $220.41. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $384.29.

Wall Street Analyst Weigh In

TSLA has been the topic of several research reports. Guggenheim lowered shares of Tesla from a “neutral” rating to a “sell” rating in a report on Friday, January 13th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $250.00 to $220.00 in a report on Thursday, January 19th. Wedbush decreased their target price on shares of Tesla from $250.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, December 23rd. Edward Jones raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, January 5th. Finally, Evercore ISI decreased their target price on shares of Tesla from $300.00 to $200.00 and set an “in-line” rating for the company in a research report on Tuesday, December 20th. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $216.60.

About Tesla

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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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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