White Pine Investment CO Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

White Pine Investment CO raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 32.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,420 shares of the electric vehicle producer’s stock after purchasing an additional 344 shares during the period. White Pine Investment CO’s holdings in Tesla were worth $574,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Abich Financial Wealth Management LLC grew its position in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Tesla in the 3rd quarter worth approximately $29,000. Clean Yield Group lifted its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. boosted its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on TSLA shares. Barclays upped their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Truist Financial reiterated a “hold” rating and issued a $360.00 target price on shares of Tesla in a research report on Thursday, January 2nd. Finally, Wedbush increased their target price on shares of Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $309.48.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 617,886 shares of company stock valued at $212,451,751. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Down 0.7 %

Shares of Tesla stock opened at $412.38 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a 50 day moving average of $395.08 and a 200 day moving average of $292.13. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.32 trillion, a P/E ratio of 112.98, a P/E/G ratio of 8.55 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

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.