Investment Planning Advisors Inc. Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Investment Planning Advisors Inc. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,247 shares of the electric vehicle producer’s stock, valued at approximately $504,000.

A number of other hedge funds have also modified their holdings of TSLA. Stonegate Investment Group LLC increased its position in Tesla by 13.2% during the 4th quarter. Stonegate Investment Group LLC now owns 2,778 shares of the electric vehicle producer’s stock worth $1,122,000 after purchasing an additional 324 shares in the last quarter. Prospect Financial Services LLC boosted its stake in shares of Tesla by 0.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock worth $3,029,000 after purchasing an additional 26 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC acquired a new position in shares of Tesla in the fourth quarter valued at approximately $233,000. Proathlete Wealth Management LLC lifted its stake in shares of Tesla by 1.7% during the fourth quarter. Proathlete Wealth Management LLC now owns 2,182 shares of the electric vehicle producer’s stock valued at $881,000 after buying an additional 36 shares during the period. Finally, KFA Private Wealth Group LLC acquired a new stake in Tesla during the fourth quarter worth approximately $298,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 553,386 shares of company stock worth $196,305,796 over the last ninety days. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TSLA shares. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a research note on Friday. Barclays raised their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and raised their target price for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Finally, Piper Sandler increased their price target on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Nine investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $318.31.

Tesla Stock Performance

Shares of Tesla stock opened at $404.60 on Friday. 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, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm’s 50-day simple moving average is $403.18 and its 200-day simple moving average is $297.99. The firm has a market cap of $1.30 trillion, a PE ratio of 198.33, a price-to-earnings-growth ratio of 8.08 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. Equities analysts forecast that Tesla, Inc. will post 2.82 earnings per share 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.