Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,374 shares of the electric vehicle producer’s stock after purchasing an additional 1,287 shares during the period. Tesla comprises approximately 0.9% of Bleakley Financial Group LLC’s investment portfolio, making the stock its 21st biggest holding. Bleakley Financial Group LLC’s holdings in Tesla were worth $29,631,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC acquired a new stake in Tesla during the third quarter worth about $29,000. Peterson Financial Group Inc. purchased a new stake in Tesla in the 3rd quarter worth approximately $35,000. Finley Financial LLC acquired a new stake in shares of Tesla during the 4th quarter worth approximately $64,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares during the period. Finally, Crews Bank & Trust purchased a new stake in Tesla during the fourth quarter worth $91,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ TSLA opened at $361.62 on Monday. The company has a market cap of $1.16 trillion, a P/E ratio of 177.27, a P/E/G ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. 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 stock has a 50-day moving average of $408.27 and a two-hundred day moving average of $303.93.

Tesla (NASDAQ:TSLA) last announced its 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 return on equity of 10.31% and a net margin of 7.26%. As a group, analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Wedbush increased their price target on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Mizuho restated an “outperform” rating and issued a $515.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Piper Sandler increased their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, twelve 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, Tesla presently has a consensus rating of “Hold” and a consensus target price of $322.29.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 560,776 shares of company stock worth $203,744,862. Corporate 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.