Legacy Capital Group California Inc. Has $870,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Legacy Capital Group California Inc. increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,154 shares of the electric vehicle producer’s stock after purchasing an additional 76 shares during the period. Legacy Capital Group California Inc.’s holdings in Tesla were worth $870,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Waterfront Wealth Inc. boosted its holdings in shares of Tesla by 1.1% during the 4th quarter. Waterfront Wealth Inc. now owns 4,578 shares of the electric vehicle producer’s stock worth $1,849,000 after buying an additional 49 shares during the period. Suncoast Equity Management boosted its holdings in Tesla by 31.5% during the fourth quarter. Suncoast Equity Management now owns 1,064 shares of the electric vehicle producer’s stock valued at $430,000 after acquiring an additional 255 shares during the period. Financial Harvest LLC acquired a new position in shares of Tesla during the 4th quarter worth about $498,000. FDx Advisors Inc. boosted its stake in Tesla by 48.1% during the 4th quarter. FDx Advisors Inc. now owns 1,673 shares of the electric vehicle producer’s stock valued at $676,000 after purchasing an additional 543 shares during the period. Finally, Nicholson Wealth Management Group LLC increased its position in Tesla by 14.1% in the 4th quarter. Nicholson Wealth Management Group LLC now owns 1,618 shares of the electric vehicle producer’s stock worth $653,000 after buying an additional 200 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 4.7 %

Shares of NASDAQ TSLA opened at $337.80 on Monday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.09 trillion, a P/E ratio of 165.59, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company’s 50 day simple moving average is $400.17 and its 200 day simple moving average is $314.04.

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 predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TSLA shares. Glj Research reaffirmed a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Wednesday, February 12th. Jefferies Financial Group boosted their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, January 29th. Finally, Piper Sandler lifted their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $319.57.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the 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 sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. Insiders own 20.70% of the company’s stock.

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.