Essential Planning LLC. Acquires New Stake in Tesla, Inc. (NASDAQ:TSLA)

Essential Planning LLC. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,313 shares of the electric vehicle producer's stock, valued at approximately $530,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. World Investment Advisors LLC increased its position in 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 increased its holdings 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 purchasing an additional 1,359 shares in the last quarter. Stephens Consulting LLC increased its holdings in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after purchasing an additional 891 shares in the last quarter. Vinva Investment Management Ltd increased its holdings in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock worth $30,593,000 after purchasing an additional 43,685 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings in shares of Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock worth $80,944,000 after purchasing an additional 9,919 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Monday, February 10th. Cantor Fitzgerald reissued a "neutral" rating and issued a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Benchmark started coverage on Tesla in a report on Wednesday, February 12th. They issued a "buy" rating and a $475.00 target price for the company. Finally, Royal Bank of Canada reaffirmed a "mixed" rating on shares of Tesla in a report on Saturday, February 8th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average price target of $325.81.

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Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of Tesla stock opened at $240.68 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week 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 stock's 50-day simple moving average is $354.52 and its 200-day simple moving average is $318.49. The company has a market capitalization of $774.15 billion, a price-to-earnings ratio of 117.98, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.

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