Baring Financial LLC Purchases New Shares in Tesla, Inc. (NASDAQ:TSLA)

Baring Financial LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,917 shares of the electric vehicle producer’s stock, valued at approximately $2,793,000. Tesla accounts for about 2.5% of Baring Financial LLC’s holdings, making the stock its 13th biggest holding.

Other hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Clean Yield Group boosted its stake in Tesla by 60.0% in the third 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. Peterson Financial Group Inc. purchased a new position in Tesla in the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares during the last quarter. Finally, Mendota Financial Group LLC acquired a new stake in shares of Tesla in the 3rd quarter worth $64,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $36,761,200. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 553,386 shares of company stock valued at $196,305,796 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $404.60 on Monday. The business has a 50 day moving average of $404.22 and a 200-day moving average of $299.34. The firm has a market cap of $1.30 trillion, a PE ratio of 198.33, a P/E/G ratio of 8.08 and a beta of 2.30. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.54%. As a group, sell-side analysts expect that Tesla, Inc. will post 2.82 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TSLA shares. The Goldman Sachs Group boosted their price objective on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Truist Financial increased their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday. Robert W. Baird decreased their target price on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday. Wells Fargo & Company increased their price target on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $318.31.

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.