Daner Wealth Management LLC Acquires New Stake in Tesla, Inc. (NASDAQ:TSLA)

Daner Wealth Management LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 556 shares of the electric vehicle producer’s stock, valued at approximately $223,000.

Several other institutional investors also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. acquired a new stake in Tesla during the 3rd quarter worth approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the 4th quarter valued at approximately $46,000. PayPay Securities Corp grew its stake in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $281.95 on Friday. The stock’s 50-day moving average price is $387.91 and its 200 day moving average price is $315.28. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $906.90 billion, a PE ratio of 138.21, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. Barclays lifted their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Piper Sandler raised 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. Canaccord Genuity Group boosted their price target on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Guggenheim reissued a “sell” rating on shares of Tesla in a research report on Tuesday. Ten analysts have rated the stock with a sell rating, eleven have issued 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 stock has an average rating of “Hold” and an average price target of $319.57.

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.