Smith & Howard Wealth Management LLC Invests $216,000 in Tesla, Inc. (NASDAQ:TSLA)

Smith & Howard Wealth Management LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 536 shares of the electric vehicle producer’s stock, valued at approximately $216,000.

A number of other institutional investors also recently made changes to their positions in TSLA. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the third quarter worth $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter worth $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the fourth quarter worth $46,000. PayPay Securities Corp raised its holdings in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in shares of Tesla in the fourth quarter worth $55,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 422,452 shares of company stock worth $153,659,530. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TSLA. Truist Financial boosted their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Stifel Nicolaus lowered their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird lowered their price objective on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Nine analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $326.31.

Tesla Trading Down 15.4 %

NASDAQ:TSLA opened at $222.15 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The business’s 50-day simple moving average is $363.87 and its 200 day simple moving average is $319.46. The stock has a market cap of $714.55 billion, a price-to-earnings ratio of 108.90, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share 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.