Grantvest Financial Group LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Grantvest Financial Group LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, Holdings Channel reports. The fund purchased 1,269 shares of the electric vehicle producer’s stock, valued at approximately $512,000.

Several other large investors also recently made changes to their positions in the stock. Strategic Financial Concepts LLC boosted its position in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Proficio Capital Partners LLC raised its holdings in Tesla by 55,181.0% in the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after acquiring an additional 4,374,746 shares during the period. Assenagon Asset Management S.A. lifted its position in Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Cowen raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Finally, TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and boosted their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $318.93.

Tesla Stock Performance

Shares of Tesla stock opened at $248.71 on Monday. 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 simple moving average of $335.19 and a 200 day simple moving average of $321.15. 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 cap of $799.98 billion, a P/E ratio of 121.92, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its 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 return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, 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 transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. Company insiders own 20.70% of the company’s stock.

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.