SevenBridge Financial Group LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

SevenBridge Financial Group LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 34.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,119 shares of the electric vehicle producer’s stock after buying an additional 286 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Tesla were worth $452,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TSLA. OneAscent Financial Services LLC boosted its holdings in Tesla by 53.7% in the fourth quarter. OneAscent Financial Services LLC now owns 8,181 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 2,859 shares during the last quarter. Creekmur Asset Management LLC lifted its holdings in shares of Tesla by 40.1% during the 4th quarter. Creekmur Asset Management LLC now owns 1,219 shares of the electric vehicle producer’s stock valued at $492,000 after buying an additional 349 shares during the period. Bryce Point Capital LLC purchased a new position in shares of Tesla in the 4th quarter worth $1,054,000. DKM Wealth Management Inc. bought a new stake in shares of Tesla in the fourth quarter worth $503,000. Finally, Private Portfolio Partners LLC lifted its holdings in Tesla by 11.3% in the fourth quarter. Private Portfolio Partners LLC now owns 2,064 shares of the electric vehicle producer’s stock valued at $833,000 after acquiring an additional 209 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred 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 approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on TSLA. Stifel Nicolaus reduced their price target on shares of Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a research report on Monday. Canaccord Genuity Group reiterated a “buy” rating and issued a $404.00 price target on shares of Tesla in a research report on Monday, March 17th. Benchmark started coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective for the company. Guggenheim decreased their target price on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a report on Wednesday, March 12th. Finally, Wells Fargo & Company cut their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $317.75.

Tesla Stock Performance

Shares of Tesla stock opened at $282.76 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 stock’s fifty day moving average is $312.22 and its two-hundred day moving average is $323.20. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a market capitalization of $909.50 billion, a PE ratio of 138.61, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. As a group, analysts expect 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.