Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.2% during the fourth quarter, Holdings Channel reports. The firm owned 13,290 shares of the electric vehicle producer’s stock after acquiring an additional 894 shares during the period. Tesla makes up approximately 3.0% of Strengthening Families & Communities LLC’s investment portfolio, making the stock its 7th biggest position. Strengthening Families & Communities LLC’s holdings in Tesla were worth $5,367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the 3rd quarter worth $29,000. Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares in the last quarter. Finley Financial LLC bought a new stake in shares of Tesla during the 4th quarter valued at approximately $64,000. Finally, Abich Financial Wealth Management LLC increased its position in Tesla by 136.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock worth $80,000 after purchasing an additional 176 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $355.84 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a 50-day moving average of $406.98 and a 200-day moving average of $306.79. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market cap of $1.14 trillion, a P/E ratio of 174.43, a P/E/G ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its 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%. Equities research analysts forecast that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock valued at $195,995,200. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TSLA shares. UBS Group upped their target price on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a report on Thursday, January 30th. Robert W. Baird dropped their price objective on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Truist Financial upped their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Canaccord Genuity Group lifted their price target on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group raised their target price on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $326.50.

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.