Snider Financial Group Invests $962,000 in Tesla, Inc. (NASDAQ:TSLA)

Snider Financial Group purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,382 shares of the electric vehicle producer’s stock, valued at approximately $962,000.

A number of other institutional investors have also bought and sold shares of TSLA. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter valued at about $29,000. Peterson Financial Group Inc. bought a new stake in Tesla in the third quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla in the fourth quarter worth about $46,000. PayPay Securities Corp lifted its stake in Tesla by 130.2% in the fourth 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 last quarter. Finally, Finley Financial LLC bought a new stake in shares of Tesla during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Bank of America decreased their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Robert W. Baird cut their price target on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. UBS Group reiterated a “neutral” rating on shares of Tesla in a research note on Tuesday. Finally, Mizuho restated an “outperform” rating and set a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $315.33.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 422,386 shares of company stock worth $153,916,675. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 2.6 %

Shares of NASDAQ TSLA opened at $279.10 on Thursday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market cap of $897.73 billion, a PE ratio of 136.81, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $374.97 and a 200 day moving average of $318.13.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company Profile

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.