Corrigan Financial Inc. Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Corrigan Financial Inc. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,993 shares of the electric vehicle producer’s stock, valued at approximately $1,209,000.

A number of other large investors also recently bought and sold shares of TSLA. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter worth $29,000. Clean Yield Group grew its holdings in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter valued at about $35,000. Finally, M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TSLA shares. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Robert W. Baird upped their price target on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Barclays boosted their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada increased their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $296.60.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $1.15 on Monday, hitting $393.59. The company had a trading volume of 50,978,357 shares, compared to its average volume of 78,694,289. The company has a market cap of $1.26 trillion, a PE ratio of 107.83, a PEG ratio of 10.80 and a beta of 2.30. The business has a 50 day moving average of $376.60 and a 200 day moving average of $281.84. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share. As a group, equities analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 621,886 shares of company stock valued at $213,451,751. Insiders own 20.70% of the company’s stock.

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.