Pacific Wealth Strategies Group Inc. Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)


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Pacific Wealth Strategies Group Inc. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 93.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,277 shares of the electric vehicle producer’s stock after acquiring an additional 617 shares during the period. Pacific Wealth Strategies Group Inc.’s holdings in Tesla were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hohimer Wealth Management LLC raised its position in Tesla by 0.8% during the fourth quarter. Hohimer Wealth Management LLC now owns 1,552 shares of the electric vehicle producer’s stock valued at $1,095,000 after acquiring an additional 12 shares in the last quarter. Jacobs & Co. CA raised its position in Tesla by 0.7% during the fourth quarter. Jacobs & Co. CA now owns 2,196 shares of the electric vehicle producer’s stock valued at $1,549,000 after acquiring an additional 16 shares in the last quarter. Pflug Koory LLC raised its position in Tesla by 21.7% during the third quarter. Pflug Koory LLC now owns 140 shares of the electric vehicle producer’s stock valued at $60,000 after acquiring an additional 25 shares in the last quarter. Sheets Smith Wealth Management raised its position in Tesla by 4.4% during the fourth quarter. Sheets Smith Wealth Management now owns 611 shares of the electric vehicle producer’s stock valued at $431,000 after acquiring an additional 26 shares in the last quarter. Finally, Fulton Bank N.A. raised its position in Tesla by 0.7% during the fourth quarter. Fulton Bank N.A. now owns 4,351 shares of the electric vehicle producer’s stock valued at $3,071,000 after acquiring an additional 30 shares in the last quarter. 48.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ TSLA opened at $854.41 on Thursday. Tesla, Inc. has a 12-month low of $70.10 and a 12-month high of $884.49. The stock has a market cap of $809.90 billion, a PE ratio of 2,225.03, a P/E/G ratio of 20.46 and a beta of 1.68. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $671.72 and a 200 day moving average of $451.20.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.54. Tesla had a net margin of 1.43% and a return on equity of 4.19%. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the prior year, the company posted $0.37 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 0.62 EPS for the current fiscal year.

In other news, SVP Andrew D. Baglino sold 1,100 shares of the stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $420.00, for a total value of $462,000.00. Following the completion of the sale, the senior vice president now owns 20,437 shares of the company’s stock, valued at approximately $8,583,540. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Zachary Kirkhorn sold 1,250 shares of the stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $446.24, for a total transaction of $557,800.00. Following the completion of the sale, the chief financial officer now directly owns 56,874 shares of the company’s stock, valued at approximately $25,379,453.76. The disclosure for this sale can be found here. In the last three months, insiders sold 186,643 shares of company stock valued at $92,195,056. Corporate insiders own 23.00% of the company’s stock.

Several research analysts recently weighed in on TSLA shares. Zacks Investment Research upgraded Tesla from a “hold” rating to a “strong-buy” rating and set a $747.00 price target for the company in a research report on Tuesday, December 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Tesla from $117.00 to $137.00 and gave the company a “sell” rating in a research report on Tuesday, October 27th. Morgan Stanley raised Tesla from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $360.00 to $540.00 in a report on Wednesday, November 18th. Bank of America dropped their price objective on Tesla to $500.00 and set a “neutral” rating on the stock in a report on Tuesday, November 17th. Finally, UBS Group set a $325.00 price objective on Tesla and gave the company a “neutral” rating in a report on Thursday, October 22nd. Twelve equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Tesla has a consensus rating of “Hold” and a consensus target price of $325.36.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive; and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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