Crown Wealth Group LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Crown Wealth Group LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,255 shares of the electric vehicle producer’s stock after buying an additional 131 shares during the quarter. Tesla comprises about 0.7% of Crown Wealth Group LLC’s portfolio, making the stock its 27th largest holding. Crown Wealth Group LLC’s holdings in Tesla were worth $1,718,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its stake in shares of Tesla by 55,181.0% during the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after purchasing an additional 4,374,746 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Tesla by 7.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 50,166 shares of the electric vehicle producer’s stock worth $20,259,000 after acquiring an additional 3,411 shares in the last quarter. Kovack Advisors Inc. lifted its stake in Tesla by 27.4% during the fourth quarter. Kovack Advisors Inc. now owns 24,930 shares of the electric vehicle producer’s stock worth $10,068,000 after purchasing an additional 5,358 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in Tesla by 2.2% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 1,130,300 shares of the electric vehicle producer’s stock valued at $456,460,000 after purchasing an additional 24,000 shares in the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Tesla during the fourth quarter worth approximately $8,735,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays increased their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research report on Monday, January 6th. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Piper Sandler increased their price objective on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Truist Financial lifted their target price on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Ten research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $318.77.

Tesla Price Performance

TSLA stock opened at $293.33 on Friday. The company has a market cap of $943.49 billion, a price-to-earnings ratio of 143.79, a PEG ratio of 5.86 and a beta of 2.34. 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 50 day moving average of $385.35 and a 200-day moving average of $316.70. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 in the last 90 days. 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.