Parcion Private Wealth LLC Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Parcion Private Wealth LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,939 shares of the electric vehicle producer’s stock after acquiring an additional 80 shares during the quarter. Parcion Private Wealth LLC’s holdings in Tesla were worth $1,187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla in the fourth quarter valued at about $46,000. PayPay Securities Corp lifted its holdings 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 valued at $49,000 after purchasing an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. raised its position in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

TSLA opened at $337.80 on Monday. The company has a market capitalization of $1.09 trillion, a PE ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. 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 business has a fifty day simple moving average of $400.17 and a 200 day simple moving average of $314.04. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted 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%. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock valued at $195,995,200 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on TSLA shares. Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $319.57.

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.