Exchange Traded Concepts LLC Increases Position in Tesla, Inc. (NASDAQ:TSLA)


Exchange Traded Concepts LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 64.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,758 shares of the electric vehicle producer’s stock after buying an additional 1,082 shares during the period. Exchange Traded Concepts LLC’s holdings in Tesla were worth $1,946,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Journey Advisory Group LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $411,000. Lake Street Financial LLC lifted its stake in shares of Tesla by 10.6% during the fourth quarter. Lake Street Financial LLC now owns 1,822 shares of the electric vehicle producer’s stock valued at $1,286,000 after buying an additional 174 shares during the period. Lincoln Capital LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $302,000. Johanson Financial Advisors Inc. lifted its stake in shares of Tesla by 26.8% during the fourth quarter. Johanson Financial Advisors Inc. now owns 1,420 shares of the electric vehicle producer’s stock valued at $1,002,000 after buying an additional 300 shares during the period. Finally, Miracle Mile Advisors LLC lifted its stake in shares of Tesla by 193.1% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,421 shares of the electric vehicle producer’s stock valued at $1,712,000 after buying an additional 5,021 shares during the period. 41.39% of the stock is currently owned by institutional investors and hedge funds.

TSLA opened at $844.55 on Wednesday. Tesla, Inc. has a twelve month low of $70.10 and a twelve month high of $884.49. The company has a current ratio of 1.63, a quick ratio of 1.32 and a debt-to-equity ratio of 0.63. The firm has a market cap of $800.55 billion, a price-to-earnings ratio of 1,695.88, a PEG ratio of 8.81 and a beta of 2.18. The company has a fifty day simple moving average of $702.34 and a 200 day simple moving average of $470.13.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.54. Tesla had a net margin of 1.97% and a return on equity of 4.93%. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the firm posted $0.37 EPS. On average, analysts forecast that Tesla, Inc. will post 1.02 earnings per share for the current fiscal year.

In other Tesla news, CAO Vaibhav Taneja sold 4,463 shares of the stock in a transaction on Wednesday, January 6th. The shares were sold at an average price of $762.99, for a total transaction of $3,405,224.37. Following the transaction, the chief accounting officer now directly owns 16,728 shares in the company, valued at approximately $12,763,296.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,000 shares of the stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $424.60, for a total transaction of $4,246,000.00. Following the transaction, the senior vice president now owns 29,837 shares in the company, valued at $12,668,790.20. The disclosure for this sale can be found here. Insiders have sold a total of 195,393 shares of company stock worth $99,974,756 over the last quarter. 23.00% of the stock is currently owned by insiders.

A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Tesla from a “hold” rating to a “strong-buy” rating and set a $747.00 price target on the stock in a research note on Tuesday, December 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Tesla from $117.00 to $137.00 and gave the stock a “sell” rating in a research note on Tuesday, October 27th. Credit Suisse Group set a $400.00 price target on shares of Tesla and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Exane BNP Paribas downgraded shares of Tesla from a “neutral” rating to an “underperform” rating and set a $340.00 price target on the stock. in a research note on Tuesday, January 5th. Finally, Oppenheimer increased their price target on shares of Tesla from $451.00 to $486.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Twelve analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $325.36.

Tesla Company Profile

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.

Further Reading: 12b-1 Fees

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)



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Della C. Mae

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