Retirement Planning Group LLC Has $670,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Retirement Planning Group LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 19.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,660 shares of the electric vehicle producer’s stock after purchasing an additional 268 shares during the period. Retirement Planning Group LLC’s holdings in Tesla were worth $670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Wealth Group Ltd. bought a new stake in shares of Tesla in the 4th quarter worth $275,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Tesla in the fourth quarter worth approximately $1,361,000. Tallon Kerry Patrick bought a new position in shares of Tesla in the fourth quarter worth approximately $374,000. Chesapeake Wealth Management increased its position in shares of Tesla by 8.0% in the fourth quarter. Chesapeake Wealth Management now owns 2,866 shares of the electric vehicle producer’s stock worth $1,157,000 after purchasing an additional 212 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in shares of Tesla by 9.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 138,880 shares of the electric vehicle producer’s stock worth $56,085,000 after purchasing an additional 11,866 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $350.11, for a total value of $1,050,330.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $9,435,464.50. The trade was a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s 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 sale, 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. Insiders have sold 415,623 shares of company stock worth $116,650,831 over the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $339.34 on Friday. The firm has a market cap of $1.09 trillion, a P/E ratio of 166.34, a P/E/G 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. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The stock’s fifty day moving average price is $277.33 and its 200-day moving average price is $332.69.

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

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Piper Sandler set a $400.00 price target on shares of Tesla in a research report on Tuesday, May 6th. Wells Fargo & Company cut their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. HSBC cut their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $293.97.

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.