DecisionMap Wealth Management LLC Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

DecisionMap Wealth Management LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,631 shares of the electric vehicle producer’s stock, valued at approximately $1,063,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the 4th quarter worth approximately $46,000. Parkworth Wealth Management Inc. purchased a new position in shares of Tesla in the 4th quarter worth approximately $47,000. PayPay Securities Corp boosted its holdings in shares of Tesla by 130.2% in 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 period. Finally, Rialto Wealth Management LLC purchased a new position in shares of Tesla in the 4th quarter worth approximately $55,000. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSLA has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a report on Wednesday. Cantor Fitzgerald reiterated a “neutral” rating and issued a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a report on Monday, January 6th. Finally, Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Nine equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $325.81.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by insiders.

Tesla Trading Up 7.6 %

Shares of NASDAQ:TSLA opened at $248.09 on Thursday. The business’s 50-day moving average is $357.29 and its 200 day moving average is $319.03. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a market capitalization of $797.99 billion, a P/E ratio of 121.61, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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

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.