Spectrum Asset Management Inc. NB CA Takes $227,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Spectrum Asset Management Inc. NB CA acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, Holdings Channel.com reports. The fund acquired 563 shares of the electric vehicle producer’s stock, valued at approximately $227,000.

A number of other institutional investors also recently bought and sold shares of TSLA. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares during the period. Finley Financial LLC purchased a new position in Tesla during the fourth quarter worth about $64,000. Finally, Abich Financial Wealth Management LLC lifted its position in Tesla by 136.4% in the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock valued at $80,000 after purchasing an additional 176 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wedbush increased their target price on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Truist Financial raised their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $321.71.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 635,776 shares of company stock worth $231,335,112 over the last three months. 20.70% of the stock is owned by insiders.

Tesla Trading Down 3.0 %

Shares of TSLA stock opened at $350.73 on Tuesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm’s 50-day simple moving average is $408.27 and its 200-day simple moving average is $304.55. The firm has a market cap of $1.13 trillion, a P/E ratio of 171.93, a PEG ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its quarterly 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 net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts forecast that Tesla, Inc. will post 2.54 EPS 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.