Kiker Wealth Management LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Kiker Wealth Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 732 shares of the electric vehicle producer’s stock, valued at approximately $296,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. GS Investments Inc. increased its stake in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla in the fourth quarter worth about $46,000. Parkworth Wealth Management Inc. purchased a new stake in shares of Tesla in the fourth quarter worth about $47,000. PayPay Securities Corp boosted its position in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares during the period. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Tesla in the fourth quarter worth about $55,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

TSLA opened at $236.26 on Friday. The firm has a market cap of $759.93 billion, a PE ratio of 115.81, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $338.11 and a 200-day simple moving average of $319.44. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued 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%. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 over the last quarter. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TSLA. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and upped their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Benchmark started coverage on Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target for the company. Oppenheimer reissued a “mixed” rating on shares of Tesla in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, UBS Group reduced their price target on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a report on Monday, March 10th. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $319.56.

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.