PFG Investments LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

PFG Investments LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.5% in the fourth quarter, Holdings Channel reports. The firm owned 131,908 shares of the electric vehicle producer’s stock after buying an additional 8,013 shares during the quarter. Tesla accounts for about 3.3% of PFG Investments LLC’s portfolio, making the stock its 2nd biggest position. PFG Investments LLC’s holdings in Tesla were worth $53,270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quarry LP bought a new stake in Tesla in the 2nd quarter worth approximately $48,000. Clearbridge Investments LLC grew its holdings in shares of Tesla by 9.1% in the second quarter. Clearbridge Investments LLC now owns 1,207,779 shares of the electric vehicle producer’s stock worth $238,995,000 after acquiring an additional 101,114 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Tesla during the second quarter valued at $807,000. Creekside Partners bought a new position in Tesla in the second quarter valued at about $476,000. Finally, Sanctuary Advisors LLC purchased a new position in Tesla in the second quarter worth about $45,548,000. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock worth $212,451,751 over the last quarter. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Truist Financial reaffirmed a “hold” rating and set a $360.00 price target on shares of Tesla in a research report on Thursday, January 2nd. The Goldman Sachs Group increased their price target on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Guggenheim reissued a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $313.84.

Tesla Stock Down 2.3 %

Shares of NASDAQ TSLA opened at $389.10 on Thursday. The stock has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 106.60, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $401.04 and its 200-day moving average price is $296.63.

Tesla (NASDAQ:TSLA) last posted 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 net margin of 13.07% and a return on equity of 10.24%. On average, equities research analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

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.