Signet Financial Management LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Signet Financial Management LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,661 shares of the electric vehicle producer’s stock after acquiring an additional 229 shares during the period. Signet Financial Management LLC’s holdings in Tesla were worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. PFW Advisors LLC bought a new position in shares of Tesla during the fourth quarter valued at approximately $829,000. Courier Capital LLC lifted its holdings in Tesla by 395.4% during the fourth quarter. Courier Capital LLC now owns 4,954 shares of the electric vehicle producer’s stock worth $2,001,000 after buying an additional 3,954 shares during the period. Parisi Gray Wealth Management increased its holdings in shares of Tesla by 2.0% in the 4th quarter. Parisi Gray Wealth Management now owns 10,989 shares of the electric vehicle producer’s stock valued at $4,438,000 after acquiring an additional 211 shares during the period. Pallas Capital Advisors LLC raised its position in shares of Tesla by 86.2% in the 4th quarter. Pallas Capital Advisors LLC now owns 6,437 shares of the electric vehicle producer’s stock worth $2,600,000 after acquiring an additional 2,980 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its stake in shares of Tesla by 47.5% during the 4th quarter. Miracle Mile Advisors LLC now owns 36,819 shares of the electric vehicle producer’s stock worth $14,869,000 after purchasing an additional 11,865 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. HSBC reissued a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Finally, Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $296.60.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock valued at $213,451,751 in the last three months. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Up 2.2 %

TSLA opened at $403.31 on Tuesday. The company has a fifty day moving average of $379.81 and a two-hundred day moving average of $283.29. The stock has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 110.50, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. On average, research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current 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.