Marotta Asset Management Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Marotta Asset Management bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 945 shares of the electric vehicle producer’s stock, valued at approximately $358,000.

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

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. The trade was a 2.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of TSLA stock traded down $6.45 during trading on Friday, hitting $388.49. The company had a trading volume of 19,498,252 shares, compared to its average volume of 75,439,117. The stock’s 50-day moving average is $373.68 and its two-hundred day moving average is $279.12. The stock has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 106.44, 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. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TSLA shares. UBS Group raised their price target on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday, November 25th. Wells Fargo & Company lifted their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $230.00 to $515.00 in a research report on Tuesday, December 17th. Truist Financial reiterated a “hold” rating and issued a $360.00 target price on shares of Tesla in a report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $295.69.

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.