Sagespring Wealth Partners LLC Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

Sagespring Wealth Partners LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 22,600 shares of the electric vehicle producer’s stock, valued at approximately $9,127,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Hengehold Capital Management LLC boosted its stake in Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after purchasing an additional 24 shares during the period. Strategic Investment Advisors MI lifted its holdings in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after buying an additional 24 shares during the last quarter. Acropolis Investment Management LLC boosted its position in shares of Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after acquiring an additional 25 shares during the period. Mount Vernon Associates Inc. MD grew its stake in shares of Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Vista Finance LLC increased its position in Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSLA. Evercore ISI increased their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Piper Sandler lowered their price target on Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Robert W. Baird reduced their price objective on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, Barclays boosted their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $298.59.

Tesla Price Performance

TSLA opened at $251.96 on Friday. The company has a fifty day moving average price of $285.19 and a two-hundred day moving average price of $323.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market capitalization of $810.42 billion, a PE ratio of 123.51, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 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, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock valued at $123,791,123 in the last ninety days. 20.70% of the stock is owned by insiders.

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.