Davis Investment Partners LLC Invests $270,000 in Tesla, Inc. (NASDAQ:TSLA)

Davis Investment Partners LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 684 shares of the electric vehicle producer’s stock, valued at approximately $270,000.

Other institutional investors also recently added to or reduced their stakes in the company. World Investment Advisors LLC boosted its stake in shares of Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management boosted its position in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd grew its stake in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after purchasing an additional 43,685 shares during the period. MML Investors Services LLC increased its holdings in shares of Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after purchasing an additional 1,741 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 2.2 %

TSLA opened at $403.31 on Tuesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a 50 day moving average price of $379.81 and a 200 day moving average price of $283.29. 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 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, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TSLA. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $230.00 to $515.00 in a research report on Tuesday, December 17th. Piper Sandler raised their price target on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. UBS Group boosted their price objective on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. Finally, Jefferies Financial Group raised their target price on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $296.60.

Insiders Place Their Bets

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 completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock worth $213,451,751 over the last quarter. 20.70% of the stock is 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.