FourThought Financial LLC Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

FourThought Financial LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 109.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 962 shares of the electric vehicle producer’s stock after purchasing an additional 502 shares during the period. FourThought Financial LLC’s holdings in Tesla were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Means Investment CO. Inc. raised its holdings in shares of Tesla by 219.9% during the third quarter. Means Investment CO. Inc. now owns 6,455 shares of the electric vehicle producer’s stock worth $1,712,000 after purchasing an additional 4,437 shares during the last quarter. Physicians Financial Services Inc. increased its holdings in Tesla by 125.6% in the third quarter. Physicians Financial Services Inc. now owns 2,511 shares of the electric vehicle producer’s stock valued at $666,000 after buying an additional 1,398 shares in the last quarter. Hancock Whitney Corp increased its holdings in Tesla by 234.4% in the third quarter. Hancock Whitney Corp now owns 6,794 shares of the electric vehicle producer’s stock valued at $1,802,000 after buying an additional 4,762 shares in the last quarter. Alaethes Wealth LLC increased its holdings in Tesla by 45.1% in the second quarter. Alaethes Wealth LLC now owns 547 shares of the electric vehicle producer’s stock valued at $368,000 after buying an additional 170 shares in the last quarter. Finally, Symphony Financial Ltd. Co. increased its holdings in Tesla by 56.4% in the third quarter. Symphony Financial Ltd. Co. now owns 3,115 shares of the electric vehicle producer’s stock valued at $835,000 after buying an additional 1,123 shares in the last quarter. Hedge funds and other institutional investors own 43.00% of the company’s stock.

Insider Activity

In other news, CFO Zachary Kirkhorn sold 3,752 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total value of $410,131.12. Following the sale, the chief financial officer now directly owns 200,411 shares of the company’s stock, valued at approximately $21,906,926.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Vaibhav Taneja sold 2,466 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $195.79, for a total transaction of $482,818.14. Following the sale, the chief accounting officer now directly owns 100,458 shares of the company’s stock, valued at approximately $19,668,671.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Zachary Kirkhorn sold 3,752 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total transaction of $410,131.12. Following the sale, the chief financial officer now directly owns 200,411 shares in the company, valued at $21,906,926.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,221 shares of company stock valued at $8,988,542. Company insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays assumed coverage on shares of Tesla in a report on Tuesday, February 14th. They issued an “overweight” rating and a $275.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, March 2nd. Oppenheimer cut shares of Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, December 19th. Morgan Stanley dropped their target price on shares of Tesla from $250.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 25th. Finally, Guggenheim lowered shares of Tesla from a “neutral” rating to a “sell” rating in a research report on Friday, January 13th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $221.39.

Tesla Price Performance

Tesla stock opened at $184.13 on Friday. The company’s 50 day simple moving average is $174.04 and its 200-day simple moving average is $198.36. The company has a market capitalization of $582.61 billion, a price-to-earnings ratio of 50.82, a price-to-earnings-growth ratio of 2.11 and a beta of 2.06. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $384.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.53.

Tesla (NASDAQ:TSLA – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The electric vehicle producer reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.21. The business had revenue of $24.32 billion for the quarter, compared to the consensus estimate of $24.26 billion. Tesla had a net margin of 15.41% and a return on equity of 31.71%. The business’s revenue was up 37.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 3.43 earnings per share for the current year.

Tesla Company Profile

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.