Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by FFT Wealth Management LLC

FFT Wealth Management LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,126 shares of the electric vehicle producer’s stock after purchasing an additional 237 shares during the period. FFT Wealth Management LLC’s holdings in Tesla were worth $859,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Transcendent Capital Group LLC acquired a new stake in Tesla during the third quarter worth about $29,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla during the fourth quarter valued at approximately $46,000. PayPay Securities Corp raised its position in shares of Tesla by 130.2% during 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 during the period. Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter worth approximately $35,000. Finally, Finley Financial LLC acquired a new position in Tesla during the 4th quarter valued at approximately $64,000. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research report on Monday, February 10th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Mizuho reiterated an “outperform” rating and set a $515.00 price objective on shares of Tesla in a research report on Thursday, January 30th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $319.57.

Tesla Stock Performance

TSLA opened at $281.95 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $906.90 billion, a PE ratio of 138.21, a P/E/G ratio of 5.86 and a beta of 2.34. The business has a fifty day simple moving average of $387.91 and a 200-day simple moving average of $315.28. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly 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 net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts predict 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.