Unified Investment Management Acquires Shares of 540 Tesla, Inc. (NASDAQ:TSLA)

Unified Investment Management bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 540 shares of the electric vehicle producer’s stock, valued at approximately $218,000.

Several other institutional investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. purchased a new stake in Tesla in the 3rd quarter worth $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla during the fourth quarter worth $46,000. PayPay Securities Corp lifted its holdings in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares in the last quarter. Finally, Finley Financial LLC acquired a new stake in shares of Tesla in the fourth quarter valued at about $64,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was 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 $538,274,741.40. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 303,996 shares of company stock worth $118,467,387 over the last 90 days. 20.70% of the stock is owned by insiders.

Tesla Price Performance

Shares of TSLA opened at $272.11 on Wednesday. The company has a market cap of $875.24 billion, a P/E ratio of 133.39, a PEG ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. 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’s 50 day moving average price is $378.63 and its 200 day moving average price is $318.40.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on TSLA shares. Wedbush set a $302.80 price objective on Tesla in a research note on Wednesday, February 26th. Stifel Nicolaus dropped their price target on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Evercore ISI raised their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Finally, UBS Group reissued a “neutral” rating on shares of Tesla in a research note on Tuesday. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $315.33.

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.