Tesla, Inc. (NASDAQ:TSLA) Stake Raised by Sachetta LLC

Sachetta LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,158 shares of the electric vehicle producer’s stock after purchasing an additional 278 shares during the period. Sachetta LLC’s holdings in Tesla were worth $871,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter valued at $29,000. Clean Yield Group grew its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the third quarter worth $35,000. M&R Capital Management Inc. lifted its holdings in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Tesla in the 2nd quarter valued at $48,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 1.4 %

Shares of NASDAQ:TSLA opened at $406.58 on Monday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market cap of $1.31 trillion, a P/E ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. The stock’s 50-day moving average is $398.82 and its 200-day moving average is $294.26.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction 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 completion of 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 disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock valued at $212,451,751 in the last 90 days. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on TSLA shares. Piper Sandler upped their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Royal Bank of Canada raised their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and boosted their target price for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Guggenheim raised their target price on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research report on Thursday, December 5th. Finally, Canaccord Genuity Group upped their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $313.84.

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.