FFT Wealth Management LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

FFT Wealth Management LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,126 shares of the electric vehicle producer’s stock after buying an additional 237 shares during the quarter. FFT Wealth Management LLC’s holdings in Tesla were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter valued at approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Tesla in the fourth quarter valued at $46,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the 3rd quarter worth $35,000. Finally, Finley Financial LLC purchased a new stake in shares of Tesla in the 4th quarter worth about $64,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 3.0 %

Shares of TSLA stock opened at $281.95 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm’s 50 day moving average price is $387.91 and its two-hundred day moving average price is $315.28. The stock has a market cap of $906.90 billion, a price-to-earnings ratio of 138.21, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results 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 net margin of 7.26% and a return on equity of 10.31%. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TSLA. Jefferies Financial Group raised their target price on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Piper Sandler lifted their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Stifel Nicolaus lowered their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a report on Monday, February 10th. UBS Group raised their price target on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $319.57.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 over the last quarter. Company insiders own 20.70% of the company’s stock.

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.