Paragon Private Wealth Management LLC Has $2 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Paragon Private Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 19.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,947 shares of the electric vehicle producer’s stock after purchasing an additional 810 shares during the period. Paragon Private Wealth Management LLC’s holdings in Tesla were worth $1,998,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Meriwether Wealth & Planning LLC acquired a new position in Tesla in the 4th quarter worth about $351,000. Tiemann Investment Advisors LLC increased its position in Tesla by 3.1% in the 4th quarter. Tiemann Investment Advisors LLC now owns 3,877 shares of the electric vehicle producer’s stock worth $1,566,000 after purchasing an additional 115 shares during the last quarter. Gallagher Capital Advisors LLC acquired a new position in Tesla in the 4th quarter worth about $457,000. Daiwa Securities Group Inc. boosted its stake in shares of Tesla by 2.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 500,237 shares of the electric vehicle producer’s stock worth $202,015,000 after acquiring an additional 10,730 shares in the last quarter. Finally, FWG Holdings LLC boosted its stake in shares of Tesla by 52.2% during the 4th quarter. FWG Holdings LLC now owns 4,077 shares of the electric vehicle producer’s stock worth $1,564,000 after acquiring an additional 1,398 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Morgan Stanley reiterated a “top pick” rating and set a $430.00 price target on shares of Tesla in a research note on Monday, March 3rd. Canaccord Genuity Group upped their price target on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Benchmark initiated coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target for the company. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $365.00 target price on shares of Tesla in a research note on Wednesday, January 29th. Nine analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $327.37.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 422,452 shares of company stock worth $153,659,530. 20.70% of the stock is currently owned by insiders.

Tesla Trading Down 0.3 %

Shares of TSLA opened at $262.67 on Monday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. 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 stock has a 50 day simple moving average of $367.78 and a 200-day simple moving average of $319.38. The stock has a market cap of $844.88 billion, a PE ratio of 128.76, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS 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.