Spartan Planning & Wealth Management Invests $1.72 Million in Tesla, Inc. (NASDAQ:TSLA)

Spartan Planning & Wealth Management purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,254 shares of the electric vehicle producer’s stock, valued at approximately $1,718,000. Tesla makes up about 1.6% of Spartan Planning & Wealth Management’s investment portfolio, making the stock its 19th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stonehearth Capital Management LLC bought a new stake in Tesla in the 4th quarter valued at $722,000. Bank & Trust Co grew its stake in Tesla by 306.3% in the fourth quarter. Bank & Trust Co now owns 390 shares of the electric vehicle producer’s stock valued at $157,000 after purchasing an additional 294 shares in the last quarter. Diversified Trust Co grew its stake in shares of Tesla by 50.7% in the fourth quarter. Diversified Trust Co now owns 53,380 shares of the electric vehicle producer’s stock valued at $21,557,000 after buying an additional 17,952 shares in the last quarter. APEIRON CAPITAL Ltd increased its stake in shares of Tesla by 104.5% during the 4th quarter. APEIRON CAPITAL Ltd now owns 96,460 shares of the electric vehicle producer’s stock worth $38,954,000 after purchasing an additional 49,300 shares during the last quarter. Finally, Advance Capital Management Inc. raised its stake in Tesla by 23.0% in the fourth quarter. Advance Capital Management Inc. now owns 3,851 shares of the electric vehicle producer’s stock valued at $1,555,000 after buying an additional 720 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $230.00 to $515.00 in a research note on Tuesday, December 17th. Royal Bank of Canada increased their target price on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Robert W. Baird lifted their price objective on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group boosted their target price on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group raised their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $295.69.

Insiders Place Their Bets

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 completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 514,886 shares of company stock valued at $169,393,831 over the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

TSLA traded down $13.92 during trading on Tuesday, hitting $397.13. 51,707,613 shares of the company traded hands, compared to its average volume of 85,295,680. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. 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 stock’s fifty day moving average is $365.34 and its 200 day moving average is $276.00. The firm has a market cap of $1.27 trillion, a P/E ratio of 108.80, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the company posted $0.53 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.