Reliant Investment Management LLC Makes New $254,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Reliant Investment Management LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 628 shares of the electric vehicle producer’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Abich Financial Wealth Management LLC boosted its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the 3rd quarter valued at about $29,000. Clean Yield Group raised its holdings 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 period. Peterson Financial Group Inc. bought a new position in shares of Tesla during the third quarter worth $35,000. Finally, M&R Capital Management Inc. grew its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ TSLA opened at $415.11 on Thursday. The stock has a market cap of $1.33 trillion, a PE ratio of 113.73, a P/E/G ratio of 8.60 and a beta of 2.30. 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 firm has a 50-day moving average of $393.38 and a 200-day moving average of $291.27. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued 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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent analyst reports. Barclays lifted their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $230.00 to $515.00 in a report on Tuesday, December 17th. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and increased their target price for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Friday, January 3rd. Finally, UBS Group increased 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. Nine analysts have rated the stock with a sell rating, fifteen have issued 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $309.48.

Insider Buying and Selling

In other news, 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 completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 617,886 shares of company stock valued at $212,451,751. Insiders own 20.70% of the company’s stock.

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.