Flower City Capital Purchases 127 Shares of Tesla, Inc. (NASDAQ:TSLA)

Flower City Capital grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 961 shares of the electric vehicle producer’s stock after buying an additional 127 shares during the period. Tesla accounts for 0.2% of Flower City Capital’s investment portfolio, making the stock its 23rd largest position. Flower City Capital’s holdings in Tesla were worth $388,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Sfmg LLC raised its stake in shares of Tesla by 0.9% during the 2nd quarter. Sfmg LLC now owns 11,918 shares of the electric vehicle producer’s stock valued at $2,358,000 after purchasing an additional 106 shares during the period. Wescott Financial Advisory Group LLC grew its holdings in Tesla by 8.0% during the 2nd quarter. Wescott Financial Advisory Group LLC now owns 2,002 shares of the electric vehicle producer’s stock valued at $396,000 after buying an additional 149 shares in the last quarter. Kingfisher Capital LLC bought a new stake in shares of Tesla during the second quarter valued at about $1,290,000. Alight Capital Management LP purchased a new stake in shares of Tesla in the second quarter worth about $1,979,000. Finally, Abich Financial Wealth Management LLC grew its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Jefferies Financial Group increased their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. HSBC restated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Wells Fargo & Company lifted their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group upped their price objective on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $309.48.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock valued at $212,451,751 in the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 2.1 %

TSLA opened at $415.11 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market cap of $1.33 trillion, a PE ratio of 113.73, a PEG ratio of 8.60 and a beta of 2.30. The business has a 50 day moving average of $393.38 and a 200-day moving average of $291.27.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. Equities research analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

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.