Quartz Partners LLC Makes New $230,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Quartz Partners LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, Holdings Channel.com reports. The fund purchased 569 shares of the electric vehicle producer’s stock, valued at approximately $230,000.

Other large investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter worth approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla during the fourth quarter worth approximately $46,000. PayPay Securities Corp grew 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 worth $49,000 after purchasing an additional 69 shares during the last quarter. Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter worth approximately $35,000. Finally, Finley Financial LLC bought a new position in shares of Tesla in the fourth quarter worth approximately $64,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction 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. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Mizuho restated an “outperform” rating and issued a $515.00 target price on shares of Tesla in a report on Thursday, January 30th. Wells Fargo & Company raised their target price on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, January 30th. Wedbush set a $328.50 target price on shares of Tesla in a report on Wednesday, February 12th. Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Finally, Piper Sandler lifted their price target on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $319.57.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $290.80 on Thursday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The business has a 50-day simple moving average of $390.99 and a two-hundred day simple moving average of $315.51. 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 firm has a market cap of $935.36 billion, a price-to-earnings ratio of 142.55, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 return on equity of 10.31% and a net margin of 7.26%. On average, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.