Atlas Legacy Advisors LLC Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Atlas Legacy Advisors LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,235 shares of the electric vehicle producer’s stock, valued at approximately $2,922,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the third quarter valued at $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla during the 4th quarter worth about $46,000. PayPay Securities Corp boosted its stake in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the period. Peterson Financial Group Inc. bought a new stake in shares of Tesla during the third quarter valued at about $35,000. Finally, Finley Financial LLC purchased a new stake in shares of Tesla in the fourth quarter worth about $64,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 4.7 %

NASDAQ:TSLA opened at $337.80 on Friday. The firm has a market capitalization of $1.09 trillion, a P/E ratio of 165.59, a P/E/G ratio of 5.97 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 company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a fifty day moving average of $400.17 and a 200 day moving average of $312.40.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on TSLA. The Goldman Sachs Group upped their target price on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, January 29th. Mizuho reissued an “outperform” rating and set a $515.00 price objective on shares of Tesla in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $326.50.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is currently owned by insiders.

About Tesla

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.