Dividend Assets Capital LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Dividend Assets Capital LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,125 shares of the electric vehicle producer’s stock, valued at approximately $858,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter valued at about $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla during the fourth quarter worth about $46,000. PayPay Securities Corp grew its stake in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Tesla in the 3rd quarter valued at about $35,000. 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 and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on TSLA shares. Truist Financial increased their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Benchmark began coverage on Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price for the company. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a report on Tuesday, February 18th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $319.57.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 523,386 shares of company stock valued at $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $330.53 on Tuesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a 50-day simple moving average of $397.52 and a 200-day simple moving average of $314.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market capitalization of $1.06 trillion, a PE ratio of 162.03, a PEG ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released 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%. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.