RDA Financial Network Acquires Shares of 820 Tesla, Inc. (NASDAQ:TSLA)

RDA Financial Network purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 820 shares of the electric vehicle producer’s stock, valued at approximately $331,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its stake in Tesla by 131.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 31,916 shares of the electric vehicle producer’s stock valued at $6,315,000 after purchasing an additional 18,103 shares during the period. Bridges Investment Management Inc. raised its position in Tesla by 17.3% in the second quarter. Bridges Investment Management Inc. now owns 12,710 shares of the electric vehicle producer’s stock worth $2,515,000 after acquiring an additional 1,875 shares during the period. King Luther Capital Management Corp grew its position in shares of Tesla by 2.8% during the 2nd quarter. King Luther Capital Management Corp now owns 6,348 shares of the electric vehicle producer’s stock valued at $1,256,000 after acquiring an additional 173 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Tesla by 2.7% in the 2nd quarter. Pacer Advisors Inc. now owns 289,756 shares of the electric vehicle producer’s stock worth $57,337,000 after purchasing an additional 7,633 shares during the period. Finally, Clean Energy Transition LLP lifted its stake in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after purchasing an additional 6,764,300 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $426.50 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market cap of $1.37 trillion, a P/E ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The firm’s fifty day moving average is $389.94 and its 200 day moving average is $288.09. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the company posted $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Glj Research restated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Friday, January 3rd. Robert W. Baird increased their target price on shares of Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Piper Sandler lifted their price objective on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $299.33.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 621,886 shares of company stock worth $213,451,751. 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.