McAlister Sweet & Associates Inc. Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

McAlister Sweet & Associates Inc. bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 700 shares of the electric vehicle producer’s stock, valued at approximately $283,000. Tesla comprises approximately 0.2% of McAlister Sweet & Associates Inc.’s portfolio, making the stock its 25th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Connable Office Inc. grew its stake in Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after acquiring an additional 38 shares during the last quarter. Community Bank N.A. lifted its holdings in shares of Tesla by 4.4% in the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after purchasing an additional 38 shares in the last quarter. Holistic Financial Partners grew its position in shares of Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its position in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares during the last quarter. Finally, Altman Advisors Inc. lifted its stake in Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 514,886 shares of company stock worth $169,393,831 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Piper Sandler boosted their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Truist Financial reaffirmed a “hold” rating and set a $360.00 price target on shares of Tesla in a research note on Thursday, January 2nd. Evercore ISI upped their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday. Finally, The Goldman Sachs Group lifted their target price on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $295.69.

Tesla Stock Down 4.1 %

NASDAQ TSLA traded down $16.69 during trading hours on Tuesday, reaching $394.36. 75,300,102 shares of the company traded hands, compared to its average volume of 91,333,039. The company has a 50 day moving average of $365.34 and a two-hundred day moving average of $276.00. The stock has a market capitalization of $1.27 trillion, a PE ratio of 108.04, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month 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 for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.