Stonehearth Capital Management LLC Makes New $722,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Stonehearth Capital Management LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,788 shares of the electric vehicle producer’s stock, valued at approximately $722,000.

Other hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the 3rd quarter worth approximately $29,000. Clean Yield Group increased its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC raised its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the 2nd quarter worth $26,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 3.9 %

Shares of TSLA traded down $16.10 during mid-day trading on Tuesday, hitting $394.95. 45,958,047 shares of the company traded hands, compared to its average volume of 83,496,867. The company has a market capitalization of $1.27 trillion, a PE ratio of 108.21, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $365.34 and a 200 day moving average of $276.00. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the firm earned $0.53 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on TSLA. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley raised their price objective on Tesla from $310.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group boosted their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial restated a “hold” rating and issued a $360.00 price target on shares of Tesla in a research report on Thursday, January 2nd. Finally, New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $295.69.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 514,886 shares of company stock valued at $169,393,831 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla 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.