Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Cannon Wealth Management Services LLC

Cannon Wealth Management Services LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,116 shares of the electric vehicle producer’s stock after purchasing an additional 139 shares during the quarter. Tesla accounts for about 1.4% of Cannon Wealth Management Services LLC’s holdings, making the stock its 21st biggest holding. Cannon Wealth Management Services LLC’s holdings in Tesla were worth $1,579,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the third quarter worth $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla during the fourth quarter valued at $46,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares during the period. Peterson Financial Group Inc. purchased a new position in Tesla in the 3rd quarter worth $35,000. Finally, Finley Financial LLC acquired a new stake in Tesla during the 4th quarter worth about $64,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 4.0 %

TSLA stock opened at $290.80 on Thursday. 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 $390.99 and a two-hundred day moving average of $315.51. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a market cap of $935.36 billion, a price-to-earnings ratio of 142.55, a PEG ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Benchmark initiated coverage on Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective for the company. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Wedbush set a $328.50 price objective on shares of Tesla in a research note on Wednesday, February 12th. Finally, Piper Sandler boosted their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Ten research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $319.57.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction 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 have sold a total of 523,386 shares of company stock worth $195,995,200 in the last quarter. Company insiders own 20.70% of the company’s stock.

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.