SPC Financial Inc. Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

SPC Financial Inc. purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 575 shares of the electric vehicle producer’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swedbank AB boosted its stake in shares of Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Tesla during the 3rd quarter valued at approximately $403,000. Heritage Investors Management Corp bought a new position in Tesla during the third quarter worth $232,000. Crestwood Advisors Group LLC lifted its stake in Tesla by 10.0% during the third quarter. Crestwood Advisors Group LLC now owns 9,700 shares of the electric vehicle producer’s stock worth $2,538,000 after purchasing an additional 878 shares during the last quarter. Finally, Beacon Financial Advisory LLC lifted its stake in Tesla by 6.8% during the third quarter. Beacon Financial Advisory LLC now owns 7,300 shares of the electric vehicle producer’s stock worth $1,910,000 after purchasing an additional 467 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSLA. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Barclays increased their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Jefferies Financial Group increased their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Stifel Nicolaus dropped their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Wells Fargo & Company increased their target price on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $315.33.

Tesla Trading Up 2.6 %

Shares of TSLA opened at $279.10 on Thursday. The business’s 50-day moving average price is $374.97 and its 200 day moving average price is $318.13. The stock has a market capitalization of $897.73 billion, a P/E ratio of 136.81, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 422,386 shares of company stock valued at $153,916,675 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Company 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.