Floyd Financial Group LLC Purchases Shares of 4,949 Tesla, Inc. (NASDAQ:TSLA)

Floyd Financial Group LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,949 shares of the electric vehicle producer’s stock, valued at approximately $1,954,000. Tesla makes up approximately 1.6% of Floyd Financial Group LLC’s investment portfolio, making the stock its 20th largest holding.

A number of other hedge funds have also modified their holdings of TSLA. Bradley Foster & Sargent Inc. CT raised its holdings in shares of Tesla by 36.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 2,797 shares of the electric vehicle producer’s stock valued at $554,000 after purchasing an additional 747 shares during the last quarter. RPg Family Wealth Advisory LLC boosted its position in Tesla by 5.9% during the second quarter. RPg Family Wealth Advisory LLC now owns 2,766 shares of the electric vehicle producer’s stock valued at $547,000 after purchasing an additional 155 shares during the last quarter. Meridian Wealth Partners LLC boosted its holdings in shares of Tesla by 2.0% in the 2nd quarter. Meridian Wealth Partners LLC now owns 2,915 shares of the electric vehicle producer’s stock valued at $577,000 after buying an additional 57 shares during the last quarter. Lingotto Investment Management LLP grew its position in shares of Tesla by 86.5% in the 2nd quarter. Lingotto Investment Management LLP now owns 75,461 shares of the electric vehicle producer’s stock valued at $14,932,000 after acquiring an additional 35,000 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Tesla by 14.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 314,477 shares of the electric vehicle producer’s stock worth $62,297,000 after acquiring an additional 39,664 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Cantor Fitzgerald raised their target price on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Robert W. Baird lifted their price objective on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Finally, Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $299.33.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $428.22 on Thursday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock’s 50 day moving average is $382.71 and its 200-day moving average is $284.69. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 117.32, a PEG ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 621,886 shares of company stock worth $213,451,751. 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.