Redwood Wealth Management Group LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Redwood Wealth Management Group LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,668 shares of the electric vehicle producer’s stock after buying an additional 75 shares during the period. Redwood Wealth Management Group LLC’s holdings in Tesla were worth $663,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Contravisory Investment Management Inc. purchased a new position in Tesla in the 3rd quarter worth approximately $25,000. Wyrmwood Management LLC bought a new position in shares of Tesla during the 4th quarter valued at approximately $25,000. Halpern Financial Inc. increased its position in shares of Tesla by 1,111.1% during the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Alpha Paradigm Partners LLC bought a new position in shares of Tesla during the 3rd quarter valued at approximately $27,000. Finally, MayTech Global Investments LLC bought a new position in shares of Tesla during the 4th quarter valued at approximately $30,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 3.6 %

Tesla stock traded down $6.21 during midday trading on Friday, reaching $164.90. The company’s stock had a trading volume of 136,439,809 shares, compared to its average volume of 87,880,752. The stock’s 50-day simple moving average is $183.42 and its 200-day simple moving average is $217.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla, Inc. has a 52-week low of $152.37 and a 52-week high of $299.29. The stock has a market capitalization of $525.17 billion, a P/E ratio of 38.26, a PEG ratio of 3.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter last year, the business posted $1.07 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 2.33 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla 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 value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup cut their target price on Tesla from $224.00 to $196.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 27th. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. KGI Securities reaffirmed a “neutral” rating and issued a $213.00 price objective (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Guggenheim upped their price objective on Tesla from $125.00 to $132.00 and gave the company a “sell” rating in a research report on Friday, December 15th. Finally, UBS Group cut their price objective on Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $201.63.

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.