Tesla, Inc. (NASDAQ:TSLA) Position Boosted by Austin Wealth Management LLC

Austin Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 13.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,747 shares of the electric vehicle producer’s stock after purchasing an additional 319 shares during the period. Austin Wealth Management LLC’s holdings in Tesla were worth $1,172,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in Tesla during the third quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla during the 4th quarter worth approximately $46,000. Parkworth Wealth Management Inc. bought a new stake in Tesla in the fourth quarter valued at approximately $47,000. PayPay Securities Corp lifted its position in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new position in shares of Tesla in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $230.58 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market capitalization of $741.66 billion, a PE ratio of 113.03, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The stock’s 50-day simple moving average is $360.40 and its 200-day simple moving average is $319.53.

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

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. The trade was a 9.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 422,452 shares of company stock valued at $153,659,530 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $550.00 price target on shares of Tesla in a research note on Friday, March 7th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Monday, February 10th. Wells Fargo & Company upped their target price on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, January 30th. Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Finally, TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and raised their price objective for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $326.43.

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.