Commonwealth Financial Services LLC Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Commonwealth Financial Services LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,061 shares of the electric vehicle producer's stock, valued at approximately $429,000.

Other large investors have also added to or reduced their stakes in the company. World Investment Advisors LLC raised its holdings in shares of Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock valued at $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management grew its position in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock worth $3,296,000 after buying an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd boosted its position in shares of Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock valued at $30,593,000 after purchasing an additional 43,685 shares in the last quarter. MML Investors Services LLC boosted its position in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock valued at $80,944,000 after purchasing an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer's stock valued at $37,801,000 after purchasing an additional 1,741 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Trading Down 6.3 %

NASDAQ TSLA traded down $22.23 during trading hours on Tuesday, hitting $328.50. The company's stock had a trading volume of 117,798,926 shares, compared to its average volume of 76,378,914. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.06 trillion, a P/E ratio of 161.03, a PEG ratio of 6.22 and a beta of 2.34. The stock has a fifty day moving average of $408.14 and a 200 day moving average of $305.46.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities research analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares of the company's stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 635,776 shares of company stock worth $231,335,112. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on TSLA. Bank of America downgraded Tesla from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Canaccord Genuity Group boosted their target price on Tesla from $298.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Phillip Securities downgraded Tesla from a "moderate sell" rating to a "strong sell" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on Tesla from $130.00 to $135.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. Finally, 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 note on Monday, December 9th. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $321.71.

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.