Elevated Financial Group LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,358 shares of the electric vehicle producer’s stock, valued at approximately $611,000.
A number of other large investors have also recently modified their holdings of the stock. Networth Advisors LLC purchased a new position in Tesla during the 4th quarter valued at about $26,000. Davidson Capital Management Inc. lifted its position in Tesla by 79.4% during the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 27 shares during the period. Turning Point Benefit Group Inc. purchased a new position in Tesla during the 3rd quarter valued at about $30,000. Manning & Napier Advisors LLC purchased a new position in Tesla during the 3rd quarter valued at about $29,000. Finally, Prism Advisors Inc. purchased a new position in Tesla during the 4th quarter valued at about $30,000. Institutional investors own 66.20% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Tigress Financial assumed coverage on shares of Tesla in a research report on Thursday, February 12th. They set a “buy” rating and a $550.00 price target for the company. Wells Fargo & Company lowered their price target on shares of Tesla from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Thursday, January 29th. TD Cowen reissued a “buy” rating and set a $490.00 price target on shares of Tesla in a research report on Thursday. Morgan Stanley set a $415.00 price target on shares of Tesla and gave the company an “equal weight” rating in a research report on Thursday, January 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Tesla from $480.00 to $465.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Eighteen investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $398.45.
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Insider Activity at Tesla
In other news, CFO Vaibhav Taneja sold 2,264 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $397.03, for a total transaction of $898,875.92. Following the completion of the transaction, the chief financial officer directly owned 18,106 shares of the company’s stock, valued at $7,188,625.18. The trade was a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 25,809 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $359.33, for a total transaction of $9,273,947.97. Following the transaction, the director directly owned 33,860 shares of the company’s stock, valued at $12,166,913.80. The trade was a 43.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 53,804 shares of company stock worth $20,865,598. Insiders own 19.90% of the company’s stock.
Tesla Stock Performance
Shares of NASDAQ TSLA opened at $376.30 on Monday. The firm’s 50 day moving average price is $385.94 and its 200-day moving average price is $420.54. The company has a market cap of $1.41 trillion, a PE ratio of 345.23, a P/E/G ratio of 13.29 and a beta of 1.91. Tesla, Inc. has a 52-week low of $259.63 and a 52-week high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 1.35 EPS for the current fiscal year.
Trending Headlines about Tesla
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Tesla Profile
Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.
Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.
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