Sagespring Wealth Partners LLC Increases Position in Tesla, Inc. $TSLA

Sagespring Wealth Partners LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 4.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,285 shares of the electric vehicle producer’s stock after purchasing an additional 1,560 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Tesla were worth $15,692,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Chapman Financial Group LLC purchased a new position in shares of Tesla during the 2nd quarter valued at approximately $26,000. LGT Financial Advisors LLC acquired a new position in Tesla during the second quarter worth $29,000. Manning & Napier Advisors LLC acquired a new position in Tesla during the third quarter worth $29,000. CoreFirst Bank & Trust purchased a new position in Tesla during the second quarter valued at $30,000. Finally, ESL Trust Services LLC grew its position in shares of Tesla by 1,900.0% in the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 95 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

Tesla Stock Down 0.1%

NASDAQ TSLA opened at $449.06 on Monday. The business’s fifty day simple moving average is $444.81 and its 200-day simple moving average is $404.75. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.49 trillion, a PE ratio of 299.37, a P/E/G ratio of 7.63 and a beta of 1.83. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $498.83.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. BNP Paribas Exane increased their target price on Tesla from $307.00 to $313.00 in a report on Monday, December 1st. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Tesla in a research note on Monday, January 5th. TD Cowen reissued a “buy” rating on shares of Tesla in a research note on Monday, November 17th. Finally, CICC Research raised their price objective on Tesla from $450.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Eighteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $410.77.

Get Our Latest Stock Report on TSLA

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,637 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the sale, the director directly owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 119,457 shares of company stock valued at $53,501,145 over the last ninety days. Company insiders own 19.90% of the company’s stock.

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.

Featured Stories

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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