Suncoast Equity Management Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Suncoast Equity Management boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 31.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,064 shares of the electric vehicle producer’s stock after purchasing an additional 255 shares during the period. Suncoast Equity Management’s holdings in Tesla were worth $430,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter valued at approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla during the fourth quarter worth approximately $46,000. PayPay Securities Corp increased its holdings 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 valued at $49,000 after purchasing an additional 69 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter valued at approximately $35,000. Finally, Finley Financial LLC purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 4.7 %

Shares of TSLA opened at $337.80 on Monday. The company has a market capitalization of $1.09 trillion, a P/E ratio of 165.59, a P/E/G 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 company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a 50-day moving average price of $400.17 and a 200 day moving average price of $314.04.

Tesla (NASDAQ:TSLA) last issued its quarterly 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 net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of a number of analyst reports. Guggenheim restated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, January 29th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. UBS Group boosted their target price on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research report on Thursday, January 30th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a report on Monday, January 6th. Finally, Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $319.57.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 523,386 shares of company stock valued at $195,995,200. 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.