Elite Wealth Management Inc. Acquires 159 Shares of Tesla, Inc. (NASDAQ:TSLA)

Elite Wealth Management Inc. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm owned 6,202 shares of the electric vehicle producer’s stock after purchasing an additional 159 shares during the period. Tesla makes up about 0.1% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Elite Wealth Management Inc.’s holdings in Tesla were worth $1,541,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the business. Axiom Financial Strategies LLC increased its holdings in shares of Tesla by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after acquiring an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased 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 acquiring an additional 164,789 shares in the last quarter. MAS Advisors LLC increased 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 acquiring an additional 81 shares in the last quarter. Ergoteles LLC increased 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 acquiring an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp increased 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 acquiring an additional 4,593 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TSLA has been the subject of several recent research reports. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. Redburn Atlantic assumed coverage on Tesla in a report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their price target on Tesla from $200.00 to $189.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. KGI Securities reiterated a “neutral” rating and set a $213.00 price target (down previously from $309.00) on shares of Tesla in a report on Thursday, January 25th. Finally, Jefferies Financial Group decreased their price target on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $198.81.

Tesla Price Performance

TSLA traded down $1.40 during trading on Wednesday, reaching $155.71. 44,304,383 shares of the company were exchanged, compared to its average volume of 101,372,797. The company’s 50-day moving average is $180.88 and its two-hundred day moving average is $213.04. The company has a market cap of $495.90 billion, a price-to-earnings ratio of 35.90, a P/E/G ratio of 4.25 and a beta of 2.39. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the company posted $1.07 EPS. Research analysts forecast that Tesla, Inc. will post 1.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 20.90% of the company’s stock.

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.