Prossimo Advisors LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Prossimo Advisors LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.4% during the 4th quarter, Holdings Channel reports. The fund owned 3,991 shares of the electric vehicle producer’s stock after buying an additional 93 shares during the quarter. Tesla comprises 1.2% of Prossimo Advisors LLC’s portfolio, making the stock its 18th largest holding. Prossimo Advisors LLC’s holdings in Tesla were worth $1,612,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TSLA. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the 3rd quarter worth $29,000. Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the 4th quarter valued at about $46,000. PayPay Securities Corp boosted its stake in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $337.80 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. 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 company has a market capitalization of $1.09 trillion, a P/E ratio of 165.59, a P/E/G ratio of 5.97 and a beta of 2.34. The company has a fifty day moving average of $400.17 and a 200-day moving average of $312.40.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TSLA shares. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a research note on Monday, January 6th. Truist Financial upped their price objective on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Evercore ISI boosted their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Finally, Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $326.50.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by 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.