Wallace Hart LLC Invests $360,000 in Tesla, Inc. (NASDAQ:TSLA)

Wallace Hart LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 892 shares of the electric vehicle producer’s stock, valued at approximately $360,000. Tesla comprises approximately 0.3% of Wallace Hart LLC’s investment portfolio, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the third quarter worth about $29,000. Peterson Financial Group Inc. acquired a new stake in Tesla in the 3rd quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the 4th quarter worth approximately $46,000. PayPay Securities Corp boosted its holdings in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in shares of Tesla during the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 422,452 shares of company stock worth $153,659,530 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on TSLA. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Truist Financial lifted their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and upped their price objective for the company from $180.00 to $388.00 in a report on Friday. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Finally, StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $326.31.

Tesla Price Performance

TSLA stock opened at $222.15 on Tuesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a market capitalization of $714.55 billion, a P/E ratio of 108.90, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business’s 50-day moving average is $363.87 and its two-hundred day moving average is $319.46.

Tesla (NASDAQ:TSLA) last posted 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 return on equity of 10.31% and a net margin of 7.26%. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.