PACK Private Wealth LLC Acquires Shares of 707 Tesla, Inc. (NASDAQ:TSLA)

PACK Private Wealth LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 707 shares of the electric vehicle producer’s stock, valued at approximately $286,000.

Several other large investors have also made changes to their positions in TSLA. Swedbank AB lifted its stake in shares of Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Tesla by 34.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after purchasing an additional 1,059 shares during the last quarter. BayBridge Capital Group LLC acquired a new position in Tesla in the third quarter valued at about $209,000. Tarbox Family Office Inc. bought a new position in Tesla during the third quarter worth about $284,000. Finally, Joel Isaacson & Co. LLC grew its position in shares of Tesla by 4.0% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 3,893 shares of the electric vehicle producer’s stock worth $1,019,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by insiders.

Tesla Price Performance

NASDAQ:TSLA opened at $337.80 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 165.59, a P/E/G ratio of 5.86 and a beta of 2.34. The stock’s 50 day moving average price is $400.17 and its two-hundred day moving average price is $313.18. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Guggenheim reiterated a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, January 29th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a report on Monday, February 10th. Truist Financial lifted their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company increased their target price on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, January 30th. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $319.57.

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.