22,600 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, HoldingsChannel.com reports. The firm bought 22,600 shares of the electric vehicle producer’s stock, valued at approximately $9,127,000.

Other large investors have also recently added to or reduced their stakes in the company. Hengehold Capital Management LLC grew its holdings in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after buying an additional 24 shares in the last quarter. Strategic Investment Advisors MI grew its stake in shares of Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after acquiring an additional 24 shares in the last quarter. Acropolis Investment Management LLC boosted its holdings in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its stake in shares of Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after buying an additional 25 shares during the last quarter. Finally, Vista Finance LLC raised its holdings in Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction dated 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 $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock worth $123,791,123 in the last 90 days. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Wells Fargo & Company lowered their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Evercore ISI boosted their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Canaccord Genuity Group restated a “buy” rating and set a $404.00 price objective on shares of Tesla in a research note on Monday, March 17th. Finally, HSBC cut their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $298.59.

Tesla Stock Down 0.2 %

TSLA stock opened at $251.96 on Friday. The stock has a market capitalization of $810.42 billion, a P/E ratio of 123.51, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $285.19 and a 200-day moving average price of $323.09. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

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