Drive Wealth Management LLC Purchases 842 Shares of Tesla, Inc. (NASDAQ:TSLA)

Drive Wealth Management LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,231 shares of the electric vehicle producer's stock after purchasing an additional 842 shares during the period. Tesla accounts for about 0.9% of Drive Wealth Management LLC's holdings, making the stock its 20th biggest holding. Drive Wealth Management LLC's holdings in Tesla were worth $3,728,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer's stock worth $2,215,765,000 after purchasing an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer's stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer's stock valued at $1,921,548,000 after buying an additional 2,511,488 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer's stock valued at $416,341,000 after buying an additional 1,479,378 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein reiterated an "underperform" rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $440.00 price objective on shares of Tesla in a report on Thursday. Robert W. Baird dropped their price target on shares of Tesla from $480.00 to $440.00 and set an "outperform" rating on the stock in a research report on Thursday. KGI Securities raised Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. Finally, Stifel Nicolaus lifted their price target on Tesla from $411.00 to $492.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $317.28.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company's stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred 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 sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

TSLA traded up $9.92 on Thursday, hitting $399.02. The company had a trading volume of 58,994,655 shares, compared to its average volume of 72,967,914. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company's fifty day moving average price is $401.98 and its 200 day moving average price is $297.28. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 109.21, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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 return on equity of 10.24% and a net margin of 13.07%. Equities analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Tesla Company 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.