Parr Mcknight Wealth Management Group LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Parr Mcknight Wealth Management Group LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,962 shares of the electric vehicle producer's stock, valued at approximately $792,000.

Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Tesla in the fourth quarter worth approximately $14,420,248,000. FMR LLC raised its position in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Down 0.5%

Tesla stock traded down $1.73 during midday trading on Wednesday, reaching $361.16. The company's stock had a trading volume of 48,410,921 shares, compared to its average volume of 97,401,849. The company has a market cap of $1.16 trillion, a P/E ratio of 176.94, a P/E/G ratio of 5.86 and a beta of 2.43. 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 business has a 50-day simple moving average of $281.93 and a 200-day simple moving average of $333.59. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the transaction, the chief financial officer now directly owns 23,084 shares of the company's stock, valued at $6,833,325.68. This represents a 20.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group lowered their price target on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Glj Research reaffirmed a "sell" rating and issued a $19.05 price target (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Roth Mkm lowered their price objective on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Argus set a $410.00 price target on Tesla in a report on Thursday, April 24th. Finally, Wedbush restated an "outperform" rating and set a $500.00 price objective (up previously from $350.00) on shares of Tesla in a report on Friday, May 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $293.97.

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.