Permanent Capital Management LP Takes $261,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Permanent Capital Management LP acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 646 shares of the electric vehicle producer’s stock, valued at approximately $261,000.

Other institutional investors have also recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new stake in Tesla during the third quarter valued at $29,000. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla in the fourth quarter worth about $46,000. PayPay Securities Corp lifted its position in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Tesla in the fourth quarter worth about $55,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 422,452 shares of company stock worth $153,659,530 in the last three months. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 0.3 %

NASDAQ TSLA opened at $262.67 on Friday. The firm has a market cap of $844.88 billion, a PE ratio of 128.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock’s 50 day simple moving average is $367.78 and its 200 day simple moving average is $318.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Evercore ISI boosted their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Barclays boosted their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Nine investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $327.37.

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.