Potentia Wealth Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

Potentia Wealth purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 10,353 shares of the electric vehicle producer’s stock, valued at approximately $4,181,000. Tesla makes up approximately 1.9% of Potentia Wealth’s holdings, making the stock its 13th largest holding.

Other large investors have also recently made changes to their positions in the company. Horrell Capital Management Inc. increased its stake 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 acquiring an additional 34 shares during the last quarter. GS Investments Inc. raised its stake in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Tesla in the 4th quarter worth $38,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Tesla during the 4th quarter valued at about $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter worth about $46,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on TSLA. Wedbush reaffirmed an “outperform” rating and set a $550.00 price objective on shares of Tesla in a research note on Thursday, March 20th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday, January 6th. UBS Group reduced their price objective on shares of Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research report on Monday, March 10th. JPMorgan Chase & Co. dropped their target price on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Finally, Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $318.93.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 in the last quarter. 20.70% of the stock is owned by insiders.

Tesla Trading Up 11.9 %

Shares of Tesla stock opened at $278.39 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $332.69 and a 200-day simple moving average of $321.49. The stock has a market cap of $895.45 billion, a price-to-earnings ratio of 136.47, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.