Cerro Pacific Wealth Advisors LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Cerro Pacific Wealth Advisors LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 774 shares of the electric vehicle producer's stock, valued at approximately $313,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TSLA. New Century Financial Group LLC boosted its holdings in shares of Tesla by 3.8% in the 4th quarter. New Century Financial Group LLC now owns 1,307 shares of the electric vehicle producer's stock worth $536,000 after purchasing an additional 48 shares during the period. FCG Investment Co boosted its holdings in Tesla by 3.8% during the 4th quarter. FCG Investment Co now owns 1,289 shares of the electric vehicle producer's stock valued at $521,000 after acquiring an additional 47 shares during the period. Yeomans Consulting Group Inc. bought a new stake in Tesla during the 4th quarter valued at $980,000. Spinnaker Investment Group LLC bought a new stake in Tesla during the 4th quarter valued at $367,000. Finally, Key Client Fiduciary Advisors LLC raised its position in Tesla by 7.6% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 4,551 shares of the electric vehicle producer's stock valued at $1,838,000 after purchasing an additional 322 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Roth Capital raised Tesla from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $295.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Guggenheim boosted their price target on Tesla from $156.00 to $175.00 and gave the stock a "sell" rating in a research report on Thursday, December 5th. StockNews.com raised Tesla from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, Robert W. Baird boosted their price target on Tesla from $280.00 to $480.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 18th. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $313.84.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $5.80 during trading on Friday, hitting $406.58. 56,102,963 shares of the stock traded hands, compared to its average volume of 67,394,624. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.31 trillion, a price-to-earnings ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. The company has a fifty day moving average price of $398.82 and a two-hundred day moving average price of $294.26. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business's quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.01 EPS for the current year.

Insider Activity

In related news, Director Kimbal Musk sold 60,500 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company's stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock valued at $212,451,751 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Tesla Profile

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.