Elm3 Financial Group LLC Purchases New Shares in Tesla, Inc. (NASDAQ:TSLA)

Elm3 Financial Group LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 644 shares of the electric vehicle producer’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TSLA. Transcendent Capital Group LLC purchased a new stake in Tesla during the 3rd quarter valued at $29,000. Peterson Financial Group Inc. purchased a new stake in Tesla during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares during the period. Finley Financial LLC bought a new position in Tesla in the 4th quarter valued at $64,000. Finally, Abich Financial Wealth Management LLC grew its position in Tesla by 136.4% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock valued at $80,000 after acquiring an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TSLA shares. Stifel Nicolaus cut their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company upped their price objective on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Truist Financial upped their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $365.00 price target on shares of Tesla in a research report on Wednesday, January 29th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $321.71.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 635,776 shares of company stock worth $231,335,112 over the last three months. 20.70% of the stock is currently owned by insiders.

Tesla Trading Down 3.0 %

Shares of NASDAQ:TSLA opened at $350.73 on Tuesday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 171.93, a PEG ratio of 6.22 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. The business has a 50-day moving average price of $408.27 and a 200-day moving average price of $304.55.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. Equities analysts predict that Tesla, Inc. will post 2.54 EPS for the current year.

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.