Financial Network Wealth Management LLC Acquires Shares of 750 Tesla, Inc. (NASDAQ:TSLA)

Financial Network Wealth Management LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 750 shares of the electric vehicle producer’s stock, valued at approximately $302,000.

A number of other hedge funds also recently bought and sold shares of the company. Loudon Investment Management LLC acquired a new position in shares of Tesla in the 4th quarter valued at about $262,000. Goodman Financial Corp acquired a new position in shares of Tesla in the 4th quarter valued at about $808,000. Kiker Wealth Management LLC acquired a new position in shares of Tesla in the 4th quarter valued at about $296,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Tesla by 125.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 27,472 shares of the electric vehicle producer’s stock valued at $11,094,000 after purchasing an additional 15,300 shares during the period. Finally, Holderness Investments Co. increased its holdings in shares of Tesla by 5.6% in the 4th quarter. Holderness Investments Co. now owns 1,838 shares of the electric vehicle producer’s stock valued at $742,000 after purchasing an additional 97 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % 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, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research reports. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Cantor Fitzgerald upgraded Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective on the stock in a report on Wednesday. Glj Research restated a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Finally, Truist Financial increased their price objective on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $319.56.

Tesla Stock Up 0.2 %

Shares of TSLA stock opened at $236.26 on Friday. The stock has a market cap of $759.93 billion, a P/E ratio of 115.81, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a fifty day moving average price of $338.11 and a 200 day moving average price of $319.44. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released 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 return on equity of 10.31% and a net margin of 7.26%. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla 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.