Conrad Siegel Investment Advisors Inc. Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Conrad Siegel Investment Advisors Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 942 shares of the electric vehicle producer’s stock after purchasing an additional 127 shares during the quarter. Conrad Siegel Investment Advisors Inc.’s holdings in Tesla were worth $380,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Connable Office Inc. increased its position in shares of Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares during the last quarter. Community Bank N.A. boosted its stake in Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after buying an additional 38 shares during the period. Holistic Financial Partners increased its position in Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after acquiring an additional 40 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its stake in shares of Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after acquiring an additional 43 shares during the period. Finally, Altman Advisors Inc. lifted its holdings in shares of Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSLA. Royal Bank of Canada increased their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. The Goldman Sachs Group raised their price target on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Truist Financial reaffirmed a “hold” rating and issued a $360.00 price objective on shares of Tesla in a research report on Thursday, January 2nd. Robert W. Baird lifted their target price on Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Finally, KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $296.60.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $403.31 on Tuesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market cap of $1.29 trillion, a PE ratio of 110.50, a P/E/G ratio of 10.80 and a beta of 2.30. The business has a 50-day simple moving average of $379.81 and a two-hundred day simple moving average of $283.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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 net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the business posted $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 in the last 90 days. Insiders own 20.70% of the company’s stock.

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.