Highland Financial Advisors LLC Buys New Position in Tesla, Inc. (NASDAQ:TSLA)

Highland Financial Advisors LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,515 shares of the electric vehicle producer’s stock, valued at approximately $612,000.

Several other hedge funds have also made changes to their positions in TSLA. Transcendent Capital Group LLC purchased a new stake in Tesla during the 3rd quarter worth about $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla during the fourth quarter worth about $46,000. PayPay Securities Corp increased its stake in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares during the period. Peterson Financial Group Inc. acquired a new stake in Tesla in the third quarter valued at approximately $35,000. Finally, Finley Financial LLC purchased a new position in Tesla in the fourth quarter worth approximately $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, 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 have sold 523,386 shares of company stock worth $195,995,200 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA opened at $354.11 on Wednesday. The company has a 50-day moving average of $405.64 and a two-hundred day moving average of $309.75. The stock has a market cap of $1.14 trillion, a P/E ratio of 173.58, a PEG ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 12-month low of $138.80 and a 12-month 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.

Tesla (NASDAQ:TSLA) last posted 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 net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts predict that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Truist Financial lifted their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Stifel Nicolaus dropped their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. boosted their target price on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Evercore ISI raised their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $326.50.

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.