Petros Family Wealth LLC Invests $1.38 Million in Tesla, Inc. (NASDAQ:TSLA)

Petros Family Wealth LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,424 shares of the electric vehicle producer’s stock, valued at approximately $1,383,000. Tesla accounts for about 1.5% of Petros Family Wealth LLC’s investment portfolio, making the stock its 16th biggest holding.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares during the last quarter. M&T Bank Corp grew its holdings in Tesla by 13.3% during the third quarter. M&T Bank Corp now owns 341,442 shares of the electric vehicle producer’s stock worth $89,332,000 after buying an additional 39,961 shares in the last quarter. McIlrath & Eck LLC raised its position in Tesla by 6.0% in the 3rd quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer’s stock valued at $890,000 after buying an additional 192 shares during the last quarter. Advisory Resource Group lifted its stake in Tesla by 1.2% during the 3rd quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer’s stock valued at $1,115,000 after acquiring an additional 50 shares in the last quarter. Finally, Morse Asset Management Inc boosted its holdings in Tesla by 46.0% during the 3rd quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer’s stock worth $2,279,000 after acquiring an additional 2,743 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on TSLA shares. Stifel Nicolaus lowered their target price on shares of Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a report on Monday, March 31st. Bank of America decreased their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Guggenheim cut their target price on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday, March 12th. Truist Financial decreased their price target on Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada cut their price objective on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Eight equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $298.59.

Insider Activity

In other news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction 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 sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Tesla stock opened at $251.96 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $810.42 billion, a PE ratio of 123.51, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The firm’s 50 day simple moving average is $285.19 and its 200 day simple moving average is $323.09.

Tesla (NASDAQ:TSLA) last released its quarterly 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%. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.