Davis Investment Partners LLC Invests $270,000 in Tesla, Inc. (NASDAQ:TSLA)

Davis Investment Partners LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 684 shares of the electric vehicle producer’s stock, valued at approximately $270,000.

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

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock worth $213,451,751 in the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 2.2 %

Shares of NASDAQ:TSLA opened at $403.31 on Tuesday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market cap of $1.29 trillion, a P/E ratio of 110.50, a P/E/G ratio of 10.80 and a beta of 2.30. The stock’s 50-day moving average is $379.81 and its 200-day moving average is $283.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. Equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Jefferies Financial Group lifted their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Wedbush restated an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Robert W. Baird boosted their price target on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Finally, Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $296.60.

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.