Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Convergence Financial LLC

Convergence Financial LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 119.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 28,865 shares of the electric vehicle producer’s stock after purchasing an additional 15,701 shares during the period. Tesla makes up about 2.3% of Convergence Financial LLC’s investment portfolio, making the stock its 13th biggest position. Convergence Financial LLC’s holdings in Tesla were worth $11,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Hengehold Capital Management LLC increased its holdings in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI increased its stake in Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after acquiring an additional 24 shares during the last quarter. Acropolis Investment Management LLC increased its stake in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after acquiring an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD increased its stake in Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Vista Finance LLC increased its stake in Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after acquiring an additional 25 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Wedbush set a $302.80 target price on Tesla in a research note on Wednesday. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Finally, New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $318.77.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 523,386 shares of company stock worth $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Up 4.0 %

TSLA opened at $293.33 on Friday. The business’s 50-day simple moving average is $385.35 and its 200-day simple moving average is $315.95. 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, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a market capitalization of $943.49 billion, a P/E ratio of 143.79, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

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%. Analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current 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.