WorthPointe LLC Invests $286,000 in Tesla, Inc. (NASDAQ:TSLA)

WorthPointe LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel reports. The firm bought 709 shares of the electric vehicle producer’s stock, valued at approximately $286,000.

A number of other institutional investors have also bought and sold shares of TSLA. Horrell Capital Management Inc. increased its holdings in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. increased its stake in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust bought a new position in Tesla during the fourth quarter worth $38,000. Cyrus J. Lawrence LLC acquired a new stake in Tesla in the fourth quarter worth $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla in the fourth quarter valued at $46,000. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Truist Financial raised their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Piper Sandler lowered their price objective on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $318.93.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction dated 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 sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 11.9 %

Tesla stock opened at $278.39 on Tuesday. The firm has a 50 day simple moving average of $332.69 and a 200 day simple moving average of $321.49. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market capitalization of $895.45 billion, a price-to-earnings ratio of 136.47, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its quarterly 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 net margin of 7.26% and a return on equity of 10.31%. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.