1,430 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Landing Point Financial Group LLC

Landing Point Financial Group LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,430 shares of the electric vehicle producer’s stock, valued at approximately $577,000. Tesla accounts for about 0.4% of Landing Point Financial Group LLC’s investment portfolio, making the stock its 29th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Horrell Capital Management Inc. grew its position in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. raised its stake in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust bought a new position in shares of Tesla in the fourth quarter worth $38,000. Delos Wealth Advisors LLC raised its stake in shares of Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after purchasing an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new position in Tesla during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $241.17 on Friday. The firm has a market cap of $775.71 billion, a P/E ratio of 118.22, a PEG ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock’s 50-day moving average is $273.93 and its two-hundred day moving average is $322.72.

Tesla (NASDAQ:TSLA) last issued 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 net margin of 7.26% and a return on equity of 10.31%. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TSLA. Deutsche Bank Aktiengesellschaft dropped their target price on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Royal Bank of Canada lowered their target price on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Guggenheim dropped their target price on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a report on Wednesday, March 12th. Finally, Glj Research restated a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Nine equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $292.18.

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.