Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Spectrum Planning & Advisory Services Inc.

Spectrum Planning & Advisory Services Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 4.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,065 shares of the electric vehicle producer’s stock after acquiring an additional 45 shares during the quarter. Spectrum Planning & Advisory Services Inc.’s holdings in Tesla were worth $430,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in Tesla in the 2nd quarter valued at $48,000. Central Pacific Bank Trust Division raised its position in shares of Tesla by 1,179.9% in the third quarter. Central Pacific Bank Trust Division now owns 4,339 shares of the electric vehicle producer’s stock valued at $1,135,000 after buying an additional 4,000 shares during the last quarter. Czech National Bank boosted its position in Tesla by 6.9% during the third quarter. Czech National Bank now owns 565,270 shares of the electric vehicle producer’s stock worth $147,892,000 after acquiring an additional 36,544 shares during the last quarter. Curbstone Financial Management Corp acquired a new position in shares of Tesla during the 3rd quarter worth approximately $470,000. Finally, Unique Wealth LLC grew its position in shares of Tesla by 4.1% in the third quarter. Unique Wealth LLC now owns 2,111 shares of the electric vehicle producer’s stock valued at $552,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 1.1 %

Tesla stock opened at $404.60 on Friday. The stock has a market cap of $1.30 trillion, a PE ratio of 198.33, a P/E/G ratio of 8.08 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock’s fifty day moving average is $403.18 and its two-hundred day moving average is $297.99. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. On average, sell-side analysts expect that Tesla, Inc. will post 2.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSLA. Evercore ISI boosted their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler boosted their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday. Finally, Truist Financial increased their price objective on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a sell rating, thirteen have given 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, the company presently has a consensus rating of “Hold” and a consensus target price of $318.31.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s 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 owns 108,965 shares in the company, valued at $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 553,386 shares of company stock worth $196,305,796. 20.70% of the stock is currently owned by 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.