Resolute Wealth Strategies LLC Takes $342,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Resolute Wealth Strategies LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 847 shares of the electric vehicle producer’s stock, valued at approximately $342,000.

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

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Jefferies Financial Group raised their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Piper Sandler boosted their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Guggenheim reaffirmed a “sell” rating on shares of Tesla in a report on Tuesday, February 25th. Finally, Canaccord Genuity Group upped their price objective on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $315.33.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 303,996 shares of company stock worth $118,467,387. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Down 4.4 %

Shares of NASDAQ TSLA opened at $272.11 on Wednesday. The stock has a 50-day moving average price of $378.63 and a two-hundred day moving average price of $318.40. 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. The company has a market cap of $875.24 billion, a price-to-earnings ratio of 133.39, a PEG ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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.