Fagan Associates Inc. Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Fagan Associates Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,958 shares of the electric vehicle producer’s stock after purchasing an additional 111 shares during the period. Fagan Associates Inc.’s holdings in Tesla were worth $4,021,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter worth about $29,000. Peterson Financial Group Inc. purchased a new position in Tesla in the 3rd quarter worth approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla in the 4th quarter worth approximately $46,000. PayPay Securities Corp grew its holdings in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. raised its position in shares of Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 4.7 %

Shares of NASDAQ:TSLA opened at $337.80 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The business has a 50 day simple moving average of $400.17 and a two-hundred day simple moving average of $313.18. The firm has a market capitalization of $1.09 trillion, a PE ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. 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 (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Benchmark initiated coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a report on Tuesday. Canaccord Genuity Group lifted their target price on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Barclays lifted their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Ten research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $319.57.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 523,386 shares of company stock worth $195,995,200. Company insiders own 20.70% of the company’s stock.

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.