City National Bank of Florida MSD Invests $414,000 in Tesla, Inc. (NASDAQ:TSLA)

City National Bank of Florida MSD acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,024 shares of the electric vehicle producer's stock, valued at approximately $414,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wealth Group Ltd. bought a new stake in Tesla in the fourth quarter valued at approximately $275,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Tesla in the 4th quarter valued at $1,361,000. Tallon Kerry Patrick bought a new stake in shares of Tesla in the 4th quarter valued at $374,000. My Legacy Advisors LLC raised its stake in Tesla by 6.0% during the 4th quarter. My Legacy Advisors LLC now owns 3,879 shares of the electric vehicle producer's stock worth $1,661,000 after buying an additional 218 shares during the period. Finally, Renaissance Investment Group LLC bought a new position in Tesla during the fourth quarter worth about $218,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TSLA shares. Truist Financial set a $280.00 price target on Tesla in a research report on Tuesday, April 22nd. Argus set a $410.00 target price on shares of Tesla in a report on Thursday, April 24th. Royal Bank of Canada reduced their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. StockNews.com downgraded shares of Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $289.43.

Insider Activity

In other news, CFO Vaibhav Taneja sold 3,000 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $350.11, for a total value of $1,050,330.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $9,435,464.50. The trade was a 10.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at $25,466,850. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is owned by insiders.

Tesla Trading Down 2.7%

TSLA stock opened at $334.62 on Thursday. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The stock has a market cap of $1.08 trillion, a price-to-earnings ratio of 164.03, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a fifty day moving average price of $272.99 and a two-hundred day moving average price of $331.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the firm posted $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current 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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