Spartan Planning & Wealth Management Invests $1.52 Million in Tesla, Inc. (NASDAQ:TSLA)

Spartan Planning & Wealth Management bought a new position in Tesla, Inc. (NASDAQ:TSLAGet Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,741 shares of the electric vehicle producer’s stock, valued at approximately $1,523,000. Tesla comprises 2.0% of Spartan Planning & Wealth Management’s holdings, making the stock its 9th biggest holding.

A number of other hedge funds have also recently modified their holdings of the stock. Cranbrook Wealth Management LLC raised its holdings in shares of Tesla by 224.1% during the third quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 65 shares during the last quarter. Coston McIsaac & Partners raised its holdings in shares of Tesla by 200.0% during the third quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 64 shares during the last quarter. TFO TDC LLC acquired a new position in shares of Tesla during the second quarter valued at approximately $27,000. Horan Securities Inc. raised its holdings in shares of Tesla by 164.3% during the second quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 23 shares during the last quarter. Finally, West Oak Capital LLC acquired a new position in shares of Tesla during the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 43.00% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. Daiwa Capital Markets cut their price target on Tesla from $240.00 to $177.00 and set an “outperform” rating for the company in a report on Tuesday, December 20th. Cowen cut their price target on Tesla from $205.00 to $122.00 in a report on Tuesday, January 3rd. Mizuho lowered their price objective on Tesla from $285.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, January 5th. Global Equities Research reiterated a “buy” rating on shares of Tesla in a research report on Tuesday, November 8th. Finally, Robert W. Baird lowered their price objective on Tesla from $316.00 to $252.00 and set an “outperform” rating for the company in a research report on Wednesday, December 28th. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $218.29.

Tesla Stock Performance

NASDAQ TSLA opened at $133.42 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $384.29. The business’s 50-day moving average price is $150.72 and its 200 day moving average price is $221.94. The firm has a market cap of $421.31 billion, a P/E ratio of 41.22, a P/E/G ratio of 1.06 and a beta of 2.02.

Tesla (NASDAQ:TSLAGet Rating) last announced its quarterly earnings data on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The company had revenue of $21.45 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 55.9% compared to the same quarter last year. On average, equities research analysts expect that Tesla, Inc. will post 3.57 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 1,312 shares of Tesla stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total value of $233,627.84. Following the sale, the senior vice president now owns 64,259 shares of the company’s stock, valued at approximately $11,442,600.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the sale, the senior vice president now owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 1,312 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total value of $233,627.84. Following the sale, the senior vice president now directly owns 64,259 shares in the company, valued at approximately $11,442,600.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,172,833 shares of company stock valued at $4,492,567,309. 25.10% of the stock is owned by corporate insiders.

About Tesla

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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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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