Triad Wealth Partners LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Triad Wealth Partners LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,064 shares of the electric vehicle producer’s stock, valued at approximately $834,000.

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

Tesla Stock Performance

Tesla stock opened at $279.10 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $374.97 and a 200-day moving average of $318.13. The firm has a market cap of $897.73 billion, a P/E ratio of 136.81, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $25,466,850. The trade was a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’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 sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 422,386 shares of company stock worth $153,916,675 over the last three months. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TSLA. Stifel Nicolaus dropped their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Guggenheim reaffirmed a “sell” rating on shares of Tesla in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Wedbush set a $302.80 price target on shares of Tesla in a report on Wednesday, February 26th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $315.33.

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.