Wayfinding Financial LLC Invests $342,000 in Tesla, Inc. (NASDAQ:TSLA)

Wayfinding Financial LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 848 shares of the electric vehicle producer’s stock, valued at approximately $342,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GS Investments Inc. boosted its stake in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the 4th quarter worth approximately $46,000. Parkworth Wealth Management Inc. purchased a new position in shares of Tesla in the 4th quarter worth approximately $47,000. PayPay Securities Corp boosted its stake in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new position in Tesla during the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 0.2 %

Shares of NASDAQ:TSLA opened at $236.26 on Friday. The stock’s 50-day moving average price is $338.11 and its 200-day moving average price is $319.44. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market capitalization of $759.93 billion, a P/E ratio of 115.81, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TSLA shares. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and increased their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Cantor Fitzgerald raised Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective for the company in a report on Wednesday. Benchmark started coverage on Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective for the company. Guggenheim reduced their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a report on Wednesday, March 12th. Finally, Royal Bank of Canada reduced their price objective on Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a report on Tuesday. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $319.56.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % 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, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by insiders.

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.