Trust Point Inc. Buys 2,404 Shares of Tesla, Inc. (NASDAQ:TSLA)

Trust Point Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,348 shares of the electric vehicle producer’s stock after buying an additional 2,404 shares during the period. Tesla makes up about 0.5% of Trust Point Inc.’s investment portfolio, making the stock its 26th largest holding. Trust Point Inc.’s holdings in Tesla were worth $7,410,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter worth about $29,000. Peterson Financial Group Inc. purchased a new position in Tesla in the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after buying an additional 187 shares in the last quarter. Mendota Financial Group LLC bought a new stake in shares of Tesla during the third quarter valued at approximately $64,000. Finally, Finley Financial LLC purchased a new position in Tesla in the 4th quarter worth approximately $64,000. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 3.4 %

Shares of Tesla stock opened at $361.62 on Friday. 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 firm has a market cap of $1.16 trillion, a price-to-earnings ratio of 177.27, a PEG ratio of 6.79 and a beta of 2.34. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The business has a 50-day moving average price of $407.94 and a 200-day moving average price of $302.76.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 2.82 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 664,776 shares of company stock worth $239,746,862 over the last 90 days. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on TSLA shares. Canaccord Genuity Group lifted their target price on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wedbush upped their target price on shares of Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Piper Sandler boosted their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a report on Monday, January 6th. Finally, Mizuho reiterated an “outperform” rating and set a $515.00 target price on shares of Tesla in a research note on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $322.29.

About Tesla

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.