MMA Asset Management LLC Acquires Shares of 1,000 Tesla, Inc. (NASDAQ:TSLA)

MMA Asset Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,000 shares of the electric vehicle producer’s stock, valued at approximately $404,000.

A number of other institutional investors have also recently bought and sold shares of TSLA. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the 3rd quarter valued at $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla during the 4th quarter valued at $46,000. PayPay Securities Corp lifted its position in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Tesla during the 3rd quarter valued at $35,000. Finally, Finley Financial LLC purchased a new position in shares of Tesla during the 4th quarter valued at $64,000. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent research reports. Evercore ISI upped their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and upped their price target for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Barclays increased their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Finally, Piper Sandler increased their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $318.77.

Tesla Trading Down 2.8 %

NASDAQ TSLA opened at $284.65 on Tuesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a 50 day simple moving average of $382.44 and a two-hundred day simple moving average of $318.01. The stock has a market cap of $915.58 billion, a P/E ratio of 139.53, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 403,996 shares of company stock worth $153,721,387. 20.70% of the stock is currently owned by company insiders.

About Tesla

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.