Resolute Wealth Strategies LLC Invests $342,000 in Tesla, Inc. (NASDAQ:TSLA)

Resolute Wealth Strategies LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 847 shares of the electric vehicle producer’s stock, valued at approximately $342,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB boosted its position in Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Tesla during the third quarter valued at $403,000. Donaldson Capital Management LLC bought a new position in shares of Tesla during the third quarter worth about $233,000. Rational Advisors LLC increased its holdings in shares of Tesla by 128.6% in the 3rd quarter. Rational Advisors LLC now owns 3,063 shares of the electric vehicle producer’s stock worth $801,000 after acquiring an additional 1,723 shares during the period. Finally, Solitude Financial Services bought a new stake in Tesla in the 3rd quarter valued at about $235,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $272.11 on Wednesday. The stock’s fifty day simple moving average is $378.63 and its 200-day simple moving average is $318.40. The company has a market capitalization of $875.24 billion, a price-to-earnings ratio of 133.39, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its 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 net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction that occurred on 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 sale, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $41,745,581.15. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,996 shares of company stock worth $118,467,387 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on TSLA. Robert W. Baird decreased their target price on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Stifel Nicolaus lowered their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Barclays boosted their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Piper Sandler raised 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. Finally, Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $315.33.

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.