Snider Financial Group Acquires Shares of 2,382 Tesla, Inc. (NASDAQ:TSLA)

Snider Financial Group acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,382 shares of the electric vehicle producer’s stock, valued at approximately $962,000.

Other large investors also recently modified their holdings of the company. Hengehold Capital Management LLC grew its position in Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI lifted its stake in shares of Tesla by 0.3% in the 4th 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 period. Acropolis Investment Management LLC lifted its stake in shares of Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after purchasing an additional 25 shares during the period. Mount Vernon Associates Inc. MD lifted its stake in shares of Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares during the period. Finally, Vista Finance LLC lifted its stake in shares of Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 2.6 %

Tesla stock opened at $279.10 on Thursday. The company has a 50-day simple moving average of $374.97 and a 200-day simple moving average of $318.13. The firm has a market capitalization of $897.73 billion, a P/E ratio of 136.81, 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 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.

Tesla (NASDAQ:TSLA) last released its 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 net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. Benchmark started coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Piper Sandler boosted 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. UBS Group restated a “neutral” rating on shares of Tesla in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research report on Monday. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $315.33.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This trade 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 2,606 shares of the firm’s stock in a transaction dated 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 owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 422,386 shares of company stock worth $153,916,675. Corporate 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.