Strive Asset Management LLC Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

Strive Asset Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,066 shares of the electric vehicle producer’s stock, valued at approximately $430,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Group Ltd. acquired a new stake in shares of Tesla during the 4th quarter valued at approximately $275,000. Comprehensive Financial Planning Inc. PA acquired a new position in Tesla during the fourth quarter worth $1,361,000. Financial Enhancement Group LLC acquired a new position in Tesla during the fourth quarter worth $672,000. SignalPoint Asset Management LLC grew its holdings in Tesla by 2.4% in the fourth quarter. SignalPoint Asset Management LLC now owns 7,130 shares of the electric vehicle producer’s stock valued at $2,879,000 after purchasing an additional 167 shares during the last quarter. Finally, Foresight Capital Management Advisors Inc. purchased a new position in shares of Tesla in the fourth quarter valued at $205,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 412,623 shares of company stock worth $115,600,501. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Up 2.1%

NASDAQ TSLA opened at $349.98 on Friday. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 171.56, a PEG ratio of 5.86 and a beta of 2.43. The stock’s 50 day moving average is $267.35 and its two-hundred day moving average is $330.09. 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 announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter last year, the business earned $0.45 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TSLA shares. Wells Fargo & Company cut their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Robert W. Baird cut their price objective on Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. UBS Group cut their price target on Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a report on Thursday, April 10th. Finally, Raymond James downgraded Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Ten equities research 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $289.43.

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.