Paragon Private Wealth Management LLC Has $2 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Paragon Private Wealth Management LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,947 shares of the electric vehicle producer’s stock after purchasing an additional 810 shares during the period. Paragon Private Wealth Management LLC’s holdings in Tesla were worth $1,998,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC grew its stake in Tesla by 1.8% in the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares during the period. FMR LLC grew its stake in Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after acquiring an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Tesla by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after acquiring an additional 780,026 shares during the period. Finally, Amundi grew its stake in Tesla by 1.2% in the fourth quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer’s stock valued at $5,117,345,000 after acquiring an additional 159,508 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a report on Monday, January 6th. Piper Sandler boosted their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Wednesday, February 12th. Finally, UBS Group restated a “neutral” rating on shares of Tesla in a report on Tuesday, March 4th. Nine equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $327.37.

Tesla Stock Performance

Shares of Tesla stock opened at $262.67 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $367.78 and a two-hundred day moving average price of $319.38. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a market cap of $844.88 billion, a P/E ratio of 128.76, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’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 completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 422,452 shares of company stock worth $153,659,530. Company insiders own 20.70% of the company’s stock.

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.