Navellier & Associates Inc. Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Navellier & Associates Inc. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 621 shares of the electric vehicle producer’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in Tesla during the third quarter worth $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla during the 4th quarter worth $46,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in Tesla in the third quarter valued at about $35,000. Finally, Finley Financial LLC purchased a new position in Tesla during the fourth quarter worth about $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Wedbush set a $328.50 price target on shares of Tesla in a research note on Wednesday, February 12th. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research note on Tuesday, February 18th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a research note on Monday, January 6th. Mizuho reissued an “outperform” rating and set a $515.00 target price on shares of Tesla in a research note on Thursday, January 30th. Finally, UBS Group lifted their target price on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $319.57.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $330.53 on Tuesday. The company has a market cap of $1.06 trillion, a P/E ratio of 162.03, a PEG ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The business’s 50-day simple moving average is $397.52 and its 200 day simple moving average is $314.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock valued at $195,995,200 in the last ninety days. 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.