Phillips Financial Management LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Phillips Financial Management LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,408 shares of the electric vehicle producer’s stock after buying an additional 93 shares during the quarter. Phillips Financial Management LLC’s holdings in Tesla were worth $1,376,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the 4th quarter worth about $46,000. Parkworth Wealth Management Inc. purchased a new stake in shares of Tesla in the 4th quarter worth approximately $47,000. PayPay Securities Corp boosted its stake in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Tesla in the 3rd quarter worth approximately $35,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Tesla during the fourth quarter valued at $55,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 over the last 90 days. 20.70% of the stock is owned by insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $248.09 on Thursday. The company has a fifty day moving average price of $357.29 and a 200 day moving average price of $319.03. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. 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 firm has a market cap of $797.99 billion, a PE ratio of 121.61, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Barclays boosted their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Robert W. Baird cut their price objective on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Glj Research restated a “buy” rating on shares of Tesla in a research note on Tuesday. Finally, Benchmark began coverage on Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target for the company. Nine research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $325.81.

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.