Legacy Solutions LLC Buys New Position in Tesla, Inc. (NASDAQ:TSLA)

Legacy Solutions LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 512 shares of the electric vehicle producer’s stock, valued at approximately $207,000.

Other hedge funds have also modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in Tesla during the 3rd quarter worth approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla during the 4th quarter worth approximately $46,000. PayPay Securities Corp increased its holdings in Tesla by 130.2% during the 4th 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. Peterson Financial Group Inc. purchased a new stake in Tesla during the 3rd quarter worth approximately $35,000. Finally, Finley Financial LLC purchased a new stake in Tesla during the 4th quarter worth approximately $64,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TSLA shares. Mizuho restated an “outperform” rating and set a $515.00 price objective on shares of Tesla in a report on Thursday, January 30th. Canaccord Genuity Group boosted their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $365.00 price target on shares of Tesla in a report on Wednesday, January 29th. UBS Group boosted their price target on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a report on Thursday, January 30th. Finally, Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and boosted their price target for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $319.57.

Tesla Trading Down 4.7 %

Shares of TSLA stock opened at $337.80 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market capitalization of $1.09 trillion, a PE ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The stock has a fifty day moving average of $400.17 and a two-hundred day moving average of $313.18. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock worth $195,995,200 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

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.