Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Truvestments Capital LLC

Truvestments Capital LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,547 shares of the electric vehicle producer’s stock after acquiring an additional 272 shares during the period. Truvestments Capital LLC’s holdings in Tesla were worth $625,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla in the fourth quarter valued at about $46,000. Parkworth Wealth Management Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at about $47,000. PayPay Securities Corp raised its position in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Tesla in the fourth quarter valued at about $55,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 7.6 %

NASDAQ TSLA opened at $248.09 on Thursday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a 50 day simple moving average of $357.29 and a 200-day simple moving average of $319.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market cap of $797.99 billion, a price-to-earnings ratio of 121.61, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % 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 firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 108,965 shares in the company, 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 sold 477,228 shares of company stock worth $166,849,043 over the last 90 days. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. Truist Financial raised their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. cut their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Guggenheim cut their price objective on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research report on Wednesday. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $325.81.

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.