750 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by Partners in Financial Planning

Partners in Financial Planning purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, Holdings Channel.com reports. The firm purchased 750 shares of the electric vehicle producer’s stock, valued at approximately $303,000.

Several other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares during the period. United Bank acquired a new position in shares of Tesla during the 3rd quarter worth about $287,000. Quantbot Technologies LP acquired a new stake in shares of Tesla in the third quarter worth approximately $687,000. Hantz Financial Services Inc. raised its holdings in Tesla by 9.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 8,208 shares of the electric vehicle producer’s stock valued at $2,147,000 after acquiring an additional 721 shares during the last quarter. Finally, Kitching Partners LLC purchased a new stake in shares of Tesla in the third quarter valued at about $201,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on TSLA shares. Piper Sandler lowered their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Bank of America reduced their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and raised their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Truist Financial upped their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $318.34.

Tesla Stock Performance

NASDAQ:TSLA opened at $263.55 on Monday. The firm has a 50 day simple moving average of $321.33 and a 200-day simple moving average of $323.01. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market cap of $847.71 billion, a PE ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 over the last three months. 20.70% of the stock is owned by insiders.

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.