Paragon Financial Partners Inc. Acquires 963 Shares of Tesla, Inc. (NASDAQ:TSLA)

Paragon Financial Partners Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 71.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,313 shares of the electric vehicle producer’s stock after purchasing an additional 963 shares during the period. Tesla comprises 0.7% of Paragon Financial Partners Inc.’s portfolio, making the stock its 26th largest holding. Paragon Financial Partners Inc.’s holdings in Tesla were worth $934,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. International Assets Investment Management LLC increased its position in Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Assenagon Asset Management S.A. raised its holdings in Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after purchasing an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after acquiring an additional 1,479,378 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Truist Financial reissued a “hold” rating and issued a $360.00 target price on shares of Tesla in a research report on Thursday, January 2nd. Royal Bank of Canada upped their price target on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley raised their target price on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Eight analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $313.84.

Tesla Stock Performance

TSLA opened at $406.58 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The business has a fifty day simple moving average of $397.11 and a 200 day simple moving average of $292.97. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a market capitalization of $1.31 trillion, a PE ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the business posted $0.53 earnings per share. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 2.01 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock valued at $212,451,751 in the last quarter. Company insiders own 20.70% of the company’s stock.

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.