Gallagher Capital Advisors LLC Acquires New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Gallagher Capital Advisors LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,131 shares of the electric vehicle producer’s stock, valued at approximately $457,000.

Several other hedge funds have also modified their holdings of TSLA. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter worth approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter worth $46,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the 3rd quarter valued at $35,000. Finally, Rialto Wealth Management LLC purchased a new position in Tesla during the 4th quarter worth $55,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Truist Financial lifted their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Jefferies Financial Group upped their price objective 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. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Nine research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $327.37.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 422,452 shares of company stock worth $153,659,530 over the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $262.67 on Monday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a 50 day moving average price of $367.78 and a 200 day moving average price of $319.38. The stock has a market capitalization of $844.88 billion, a P/E ratio of 128.76, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.