Putney Financial Group LLC Invests $467,000 in Tesla, Inc. (NASDAQ:TSLA)

Putney Financial Group LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,156 shares of the electric vehicle producer's stock, valued at approximately $467,000.

A number of other large investors also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. increased its position in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC increased its position in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the last quarter. Norges Bank bought a new position in Tesla during the fourth quarter valued at $14,420,248,000. FMR LLC increased its position in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA stock traded up $23.55 during trading hours on Tuesday, hitting $362.89. The stock had a trading volume of 118,443,476 shares, compared to its average volume of 97,589,424. The firm has a market capitalization of $1.17 trillion, a PE ratio of 177.89, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The stock's 50 day moving average is $279.40 and its 200 day moving average is $333.38. 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 issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the business earned $0.45 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 6,000 shares of the firm's 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 sale, the chief financial officer now directly owns 23,084 shares in the company, valued at approximately $6,833,325.68. This trade represents a 20.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 415,623 shares of company stock worth $116,650,831. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TSLA shares. Cowen raised shares of Tesla from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Piper Sandler set a $400.00 price target on shares of Tesla in a research report on Tuesday, May 6th. Raymond James lowered shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. UBS Group decreased their price target on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Finally, Barclays decreased their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Ten 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 given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $293.97.

Tesla Company 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.