BG Investment Services Inc. Buys Shares of 1,918 Tesla, Inc. (NASDAQ:TSLA)

BG Investment Services Inc. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, Holdings Channel reports. The firm purchased 1,918 shares of the electric vehicle producer’s stock, valued at approximately $775,000. Tesla comprises approximately 0.8% of BG Investment Services Inc.’s holdings, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Horrell Capital Management Inc. boosted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. raised its stake in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of Tesla in the 4th quarter valued at approximately $38,000. Cyrus J. Lawrence LLC bought a new position in shares of Tesla in the fourth quarter valued at $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla during the fourth quarter worth $46,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 over the last ninety days. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $287.95 on Wednesday. The firm has a 50 day moving average of $330.52 and a 200-day moving average of $322.04. The stock has a market capitalization of $926.20 billion, a PE ratio of 141.15, a PEG 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 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Robert W. Baird cut their price target on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Royal Bank of Canada reduced their target price on Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Finally, Truist Financial increased their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $318.93.

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.