Tesla, Inc. (NASDAQ:TSLA) Stake Boosted by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 1,997 shares of the electric vehicle producer’s stock after acquiring an additional 50 shares during the period. Sovereign Financial Group Inc.’s holdings in Tesla were worth $806,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Transcendent Capital Group LLC purchased a new position in Tesla during the 3rd quarter valued at about $29,000. Clean Yield Group grew its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC grew its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Tesla during the 3rd quarter valued at about $35,000. Finally, M&R Capital Management Inc. grew its stake in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $428.22 on Thursday. The business’s fifty day moving average price is $382.71 and its two-hundred day moving average price is $284.69. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 117.32, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 for 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 business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. As a group, analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, 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. Over the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on TSLA shares. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. 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. UBS Group lifted their price target on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday, November 25th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Truist Financial reiterated a “hold” rating and set a $360.00 price target on shares of Tesla in a report on Thursday, January 2nd. Nine research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $299.33.

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.