Atlas Legacy Advisors LLC Invests $2.92 Million in Tesla, Inc. (NASDAQ:TSLA)

Atlas Legacy Advisors LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,235 shares of the electric vehicle producer’s stock, valued at approximately $2,922,000.

A number of other large investors also recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new position in Tesla during the 3rd quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla during the fourth quarter valued at $46,000. PayPay Securities Corp boosted its holdings in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. The Goldman Sachs Group lifted their target price on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Robert W. Baird cut their price target on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Benchmark assumed coverage on shares of Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $326.50.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 in the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $337.80 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. 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 firm’s fifty day moving average is $400.17 and its 200 day moving average is $312.40. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 165.59, a PEG ratio of 5.97 and a beta of 2.34.

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 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%. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

About Tesla

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.