Level Wealth Management LLC Makes New $286,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Level Wealth Management LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 707 shares of the electric vehicle producer’s stock, valued at approximately $286,000.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter worth about $29,000. Clean Yield Group grew its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Tesla in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares in the last quarter. Finally, Mendota Financial Group LLC purchased a new stake in shares of Tesla in the 3rd quarter worth approximately $64,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Down 3.6 %

Shares of Tesla stock opened at $378.17 on Thursday. The stock has a market capitalization of $1.22 trillion, a P/E ratio of 185.38, a PEG ratio of 6.79 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $406.20 and a two-hundred day moving average price of $301.73. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts expect that Tesla, Inc. will post 2.82 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on TSLA. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, January 30th. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and increased their target price for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Jefferies Financial Group increased their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Finally, Piper Sandler increased their price objective on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Nine research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $318.31.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $300.37, for a total value of $2,402,960.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $31,548,461.84. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 672,776 shares of company stock valued at $242,149,822 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Company 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.