Cypress Financial Planning LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) during the fourth quarter, HoldingsChannel reports. The fund bought 587 shares of the electric vehicle producer’s stock, valued at approximately $237,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Abich Financial Wealth Management LLC lifted its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in Tesla in the third quarter valued at approximately $29,000. Clean Yield Group boosted its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in Tesla in the 3rd quarter worth approximately $35,000. Finally, M&R Capital Management Inc. grew its stake in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.
Tesla Trading Down 1.7 %
Shares of TSLA stock opened at $396.36 on Wednesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 108.59, a PEG ratio of 10.80 and a beta of 2.30. The company’s 50-day moving average price is $382.71 and its 200-day moving average price is $284.69. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on TSLA. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Evercore ISI lifted their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Robert W. Baird increased their price target on Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $296.60.
Insider Buying and Selling
In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’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 transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 621,886 shares of company stock worth $213,451,751. Company insiders own 20.70% of the company’s stock.
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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