Northeast Financial Consultants Inc Acquires Shares of 681 Tesla, Inc. (NASDAQ:TSLA)

Northeast Financial Consultants Inc acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 681 shares of the electric vehicle producer’s stock, valued at approximately $275,000.

Other institutional investors have also added to or reduced their stakes in the company. Horrell Capital Management Inc. lifted its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. lifted its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC purchased a new stake in shares of Tesla in the fourth quarter worth about $37,000. CoreFirst Bank & Trust purchased a new stake in Tesla in the fourth quarter valued at approximately $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Tesla in the fourth quarter valued at approximately $39,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $300.00, for a total value of $1,200,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $8,085,000. The trade was a 12.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 412,623 shares of company stock worth $115,600,501. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $347.68 on Thursday. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The stock has a market cap of $1.12 trillion, a PE ratio of 170.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average price is $262.55 and its 200-day moving average price is $328.41.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the firm posted $0.45 EPS. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Canaccord Genuity Group lowered their target price on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Roth Mkm lowered their target price on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Finally, Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $287.46.

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.