709 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by WorthPointe LLC

WorthPointe LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 709 shares of the electric vehicle producer’s stock, valued at approximately $286,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Zions Bancorporation N.A. increased its holdings in Tesla by 83.6% during the 4th quarter. Zions Bancorporation N.A. now owns 15,937 shares of the electric vehicle producer’s stock worth $6,436,000 after purchasing an additional 7,255 shares in the last quarter. FineMark National Bank & Trust boosted its position in shares of Tesla by 3.2% during the fourth quarter. FineMark National Bank & Trust now owns 11,931 shares of the electric vehicle producer’s stock worth $4,818,000 after buying an additional 372 shares during the period. Ashton Thomas Securities LLC raised its position in Tesla by 7.9% in the 4th quarter. Ashton Thomas Securities LLC now owns 13,649 shares of the electric vehicle producer’s stock valued at $5,511,000 after buying an additional 996 shares during the last quarter. TD Asset Management Inc. boosted its position in Tesla by 2.5% during the 4th quarter. TD Asset Management Inc. now owns 1,503,019 shares of the electric vehicle producer’s stock worth $606,979,000 after acquiring an additional 36,772 shares during the last quarter. Finally, Princeton Capital Management LLC raised its holdings in shares of Tesla by 11.8% in the fourth quarter. Princeton Capital Management LLC now owns 8,950 shares of the electric vehicle producer’s stock valued at $3,614,000 after purchasing an additional 946 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $278.39 on Tuesday. The firm’s 50 day simple moving average is $332.69 and its 200 day simple moving average is $321.49. The firm has a market capitalization of $895.45 billion, a price-to-earnings ratio of 136.47, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

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 the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSLA shares. Stifel Nicolaus decreased their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a report on Monday, February 10th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 price target on shares of Tesla in a research report on Monday, March 17th. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $318.93.

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.