1,363 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Palisades Hudson Asset Management L.P.

Palisades Hudson Asset Management L.P. bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,363 shares of the electric vehicle producer’s stock, valued at approximately $550,000.

A number of other hedge funds have also recently bought and sold shares of TSLA. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter worth about $29,000. Peterson Financial Group Inc. purchased a new position in Tesla in the 3rd quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the 4th quarter worth about $46,000. PayPay Securities Corp increased its stake in Tesla by 130.2% in the 4th 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. Finally, Rialto Wealth Management LLC purchased a new position in Tesla in the 4th quarter worth about $55,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 15.4 %

Shares of TSLA stock opened at $222.15 on Tuesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a market cap of $714.55 billion, a PE ratio of 108.90, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The stock has a 50 day moving average of $363.87 and a 200-day moving average of $319.46. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued 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%. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TSLA. Benchmark began coverage on Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target on the stock. Mizuho reiterated an “outperform” rating and issued a $515.00 target price on shares of Tesla in a report on Thursday, January 30th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Evercore ISI upped their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Finally, UBS Group dropped their target price on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a report on Monday. Nine research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $326.31.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $25,466,850. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 422,452 shares of company stock worth $153,659,530 over the last three months. 20.70% of the stock is currently owned by insiders.

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.