Graney & King LLC Invests $84,000 in Tesla, Inc. (NASDAQ:TSLA)

Graney & King LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 207 shares of the electric vehicle producer’s stock, valued at approximately $84,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. World Investment Advisors LLC raised its holdings in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after purchasing an additional 184,459 shares during the last quarter. Destination Wealth Management grew its position in shares of Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Stephens Consulting LLC raised its holdings in shares of Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after acquiring an additional 891 shares in the last quarter. Vinva Investment Management Ltd lifted its position in Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC increased its stake in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after acquiring an additional 9,919 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the firm’s 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 transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last quarter. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TSLA. Royal Bank of Canada dropped their target price on Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Evercore ISI raised their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Glj Research restated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Wedbush reaffirmed an “outperform” rating and set a $550.00 price target on shares of Tesla in a research report on Thursday, March 20th. Finally, Piper Sandler dropped their price target on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Nine equities research analysts have rated the stock with a sell rating, eight 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, the company currently has an average rating of “Hold” and a consensus price target of $318.93.

Tesla Stock Performance

NASDAQ:TSLA opened at $287.95 on Wednesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market cap of $926.20 billion, a P/E ratio of 141.15, a PEG ratio of 5.86 and a beta of 2.50. The stock has a 50 day simple moving average of $330.52 and a 200 day simple moving average of $322.04. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

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

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.