1,786 Shares in Tesla, Inc. $TSLA Bought by Towerpoint Wealth LLC

Towerpoint Wealth LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) during the fourth quarter, Holdings Channel reports. The firm purchased 1,786 shares of the electric vehicle producer’s stock, valued at approximately $803,000.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Chapman Financial Group LLC purchased a new stake in Tesla in the second quarter worth approximately $26,000. Manning & Napier Advisors LLC purchased a new stake in shares of Tesla in the 3rd quarter valued at $29,000. CoreFirst Bank & Trust purchased a new position in Tesla in the 2nd quarter worth $30,000. Turning Point Benefit Group Inc. purchased a new stake in Tesla during the third quarter valued at about $30,000. Finally, Texas Capital Bancshares Inc TX bought a new position in shares of Tesla during the third quarter valued at about $31,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $361.83 on Monday. The company has a 50-day moving average price of $408.20 and a 200-day moving average price of $428.92. The stock has a market cap of $1.36 trillion, a price-to-earnings ratio of 335.03, a P/E/G ratio of 10.71 and a beta of 1.89. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The company had revenue of $24.90 billion for the quarter, compared to analysts’ expectations of $24.75 billion. During the same quarter in the previous year, the company earned $0.73 earnings per share. Tesla’s quarterly revenue was down 3.1% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Tesla from $130.00 to $125.00 and set an “underweight” rating on the stock in a research report on Thursday, January 29th. Barclays reissued a “neutral” rating on shares of Tesla in a research note on Wednesday, March 4th. TD Cowen lifted their target price on shares of Tesla from $509.00 to $519.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Bank of America started coverage on shares of Tesla in a report on Wednesday, March 4th. They set a “buy” rating and a $460.00 price target for the company. Finally, Mizuho set a $540.00 price objective on shares of Tesla and gave the company an “outperform” rating in a research report on Thursday, January 29th. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $406.84.

View Our Latest Report on TSLA

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,264 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $397.03, for a total transaction of $898,875.92. Following the sale, the chief financial officer owned 18,106 shares in the company, valued at approximately $7,188,625.18. The trade was a 11.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $445.40, for a total transaction of $26,724,000.00. Following the completion of the transaction, the director owned 577,031 shares of the company’s stock, valued at approximately $257,009,607.40. The trade was a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 87,995 shares of company stock worth $38,315,650. Company insiders own 19.90% of the company’s stock.

More Tesla News

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Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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