Relyea Zuckerberg Hanson LLC Buys 612 Shares of Tesla, Inc. (NASDAQ:TSLA)

Relyea Zuckerberg Hanson LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,027 shares of the electric vehicle producer’s stock after purchasing an additional 612 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Tesla were worth $2,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Saxon Interests Inc. bought a new stake in shares of Tesla during the fourth quarter worth about $211,000. Avanza Fonder AB bought a new stake in shares of Tesla during the fourth quarter worth about $98,957,000. Procyon Advisors LLC increased its position in shares of Tesla by 3.9% during the fourth quarter. Procyon Advisors LLC now owns 69,827 shares of the electric vehicle producer’s stock worth $28,199,000 after acquiring an additional 2,610 shares in the last quarter. Everpar Advisors LLC increased its position in shares of Tesla by 9.3% during the fourth quarter. Everpar Advisors LLC now owns 8,869 shares of the electric vehicle producer’s stock worth $3,582,000 after acquiring an additional 757 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd purchased a new position in Tesla during the fourth quarter worth about $35,695,000. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a report on Thursday, October 24th. Wedbush restated an “outperform” rating and set a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Piper Sandler boosted their price target on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Guggenheim boosted their price target on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a report on Thursday, December 5th. Finally, StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $299.33.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Tesla stock opened at $426.50 on Friday. The firm’s 50 day simple moving average is $389.94 and its 200 day simple moving average is $288.09. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.37 trillion, a PE ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Tesla Company 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.