6,819 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Prasad Wealth Partners LLC

Prasad Wealth Partners LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,819 shares of the electric vehicle producer’s stock, valued at approximately $2,754,000. Tesla comprises about 0.9% of Prasad Wealth Partners LLC’s holdings, making the stock its 28th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the third quarter worth approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the fourth quarter worth approximately $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. Peterson Financial Group Inc. purchased a new position in Tesla during the third quarter valued at approximately $35,000. Finally, Finley Financial LLC purchased a new position in Tesla during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TSLA shares. UBS Group lifted their price target on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a report on Thursday, January 30th. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Wednesday, February 12th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a report on Monday, February 10th. Guggenheim restated a “sell” rating on shares of Tesla in a research report on Tuesday. Finally, Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Ten investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $319.57.

Tesla Stock Down 4.0 %

TSLA opened at $290.80 on Thursday. 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 has a market cap of $935.36 billion, a P/E ratio of 142.55, a PEG ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The business’s fifty day simple moving average is $390.99 and its 200 day simple moving average is $315.51.

Tesla (NASDAQ:TSLA) last issued 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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS 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.