Parr Mcknight Wealth Management Group LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,962 shares of the electric vehicle producer's stock, valued at approximately $792,000.
A number of other hedge funds have also bought and sold shares of TSLA. Pacific Point Advisors LLC bought a new stake in shares of Tesla in the 4th quarter valued at $8,602,000. Wick Capital Partners LLC increased its stake in Tesla by 48.8% in the fourth quarter. Wick Capital Partners LLC now owns 2,927 shares of the electric vehicle producer's stock valued at $1,182,000 after purchasing an additional 960 shares in the last quarter. Hudson Value Partners LLC acquired a new position in shares of Tesla during the fourth quarter valued at about $235,000. Vega Investment Solutions acquired a new stake in shares of Tesla in the 4th quarter valued at about $808,000. Finally, Investment Management Corp VA ADV bought a new stake in Tesla in the 4th quarter valued at about $59,000. Institutional investors own 66.20% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on TSLA. Benchmark reissued a "buy" rating and issued a $350.00 price objective on shares of Tesla in a research note on Wednesday, April 23rd. Argus set a $410.00 price target on shares of Tesla in a research note on Thursday, April 24th. Oppenheimer restated a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Finally, Bank of America dropped their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average price target of $293.97.
Check Out Our Latest Analysis on TSLA
Tesla Stock Performance
Shares of Tesla stock traded up $22.56 during trading hours on Tuesday, reaching $361.90. The company had a trading volume of 107,814,563 shares, compared to its average volume of 107,508,367. The firm has a market cap of $1.17 trillion, a PE ratio of 177.40, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a fifty day simple moving average of $279.40 and a 200 day simple moving average of $333.38.
Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 during 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 quarter in the prior year, the business earned $0.45 EPS. On average, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Insider Transactions at Tesla
In other news, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the transaction, the chief financial officer now owns 23,084 shares of the company's stock, valued at approximately $6,833,325.68. This represents a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is currently owned by corporate insiders.
Tesla Company Profile
(
Free Report)
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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