Cathy Pareto & Associates Inc. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,211 shares of the electric vehicle producer’s stock, valued at approximately $489,000.
Other large investors also recently added to or reduced their stakes in the company. Hengehold Capital Management LLC boosted its position in shares of Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares during the period. Strategic Investment Advisors MI lifted its stake in Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares in the last quarter. Acropolis Investment Management LLC grew its stake in shares of Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after buying an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD raised its holdings in shares of Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after buying an additional 25 shares during the period. Finally, Avaii Wealth Management LLC lifted its stake in Tesla by 0.9% during the 4th quarter. Avaii Wealth Management LLC now owns 3,636 shares of the electric vehicle producer’s stock worth $1,468,000 after acquiring an additional 31 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.
Tesla Stock Performance
Shares of TSLA stock opened at $389.10 on Thursday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a market cap of $1.25 trillion, a PE ratio of 106.60, a P/E/G ratio of 8.42 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $401.04 and its 200-day simple moving average is $296.63.
Insider Buying and Selling
In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Barclays increased their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Guggenheim reaffirmed a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday. Finally, Wedbush raised their target price on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $313.84.
Check Out Our Latest Stock Analysis on TSLA
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.
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