Peachtree Investment Partners LLC Acquires Shares of 741 Tesla, Inc. (NASDAQ:TSLA)

Peachtree Investment Partners LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 741 shares of the electric vehicle producer’s stock, valued at approximately $299,000.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter valued at about $14,420,248,000. FMR LLC increased its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after buying an additional 5,719,466 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of Tesla by 55,181.0% during the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after buying an additional 4,374,746 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $233.29 on Tuesday. The business’s 50-day simple moving average is $302.70 and its 200-day simple moving average is $324.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a market cap of $750.38 billion, a price-to-earnings ratio of 114.36, a P/E/G ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Glj Research reissued a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. The Goldman Sachs Group reduced their target price on Tesla from $320.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Mizuho dropped their price target on Tesla from $515.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Piper Sandler dropped their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Finally, Morgan Stanley dropped their price objective on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Eight equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $305.31.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 370,228 shares of company stock valued at $122,791,123 in the last quarter. Insiders own 20.70% of the company’s stock.

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.