Ranch Capital Advisors Inc. Sells 80 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ranch Capital Advisors Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,226 shares of the electric vehicle producer’s stock after selling 80 shares during the quarter. Tesla makes up approximately 1.8% of Ranch Capital Advisors Inc.’s investment portfolio, making the stock its 13th largest position. Ranch Capital Advisors Inc.’s holdings in Tesla were worth $3,726,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the fourth quarter valued at approximately $46,000. PayPay Securities Corp increased its stake in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the period. Finally, Rialto Wealth Management LLC acquired a new position in shares of Tesla in the fourth quarter valued at approximately $55,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TSLA shares. Piper Sandler increased their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Benchmark initiated coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective for the company. Evercore ISI increased their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Finally, Jefferies Financial Group increased their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Nine research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $327.37.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s 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 directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 422,452 shares of company stock valued at $153,659,530. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $262.67 on Monday. 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 fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock has a 50 day moving average price of $367.78 and a two-hundred day moving average price of $319.38. The company has a market capitalization of $844.88 billion, a P/E ratio of 128.76, a PEG ratio of 5.86 and a beta of 2.50.

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

Tesla 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.