Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,827 shares of the electric vehicle producer’s stock after acquiring an additional 2,610 shares during the quarter. Tesla accounts for approximately 1.8% of Procyon Advisors LLC’s holdings, making the stock its 11th largest position. Procyon Advisors LLC’s holdings in Tesla were worth $28,199,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its stake in Tesla by 131.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 31,916 shares of the electric vehicle producer’s stock worth $6,315,000 after acquiring an additional 18,103 shares during the period. Bridges Investment Management Inc. grew its holdings in shares of Tesla by 17.3% during the second quarter. Bridges Investment Management Inc. now owns 12,710 shares of the electric vehicle producer’s stock valued at $2,515,000 after purchasing an additional 1,875 shares during the last quarter. King Luther Capital Management Corp raised its position in shares of Tesla by 2.8% during the 2nd quarter. King Luther Capital Management Corp now owns 6,348 shares of the electric vehicle producer’s stock worth $1,256,000 after purchasing an additional 173 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Tesla by 2.7% in the 2nd quarter. Pacer Advisors Inc. now owns 289,756 shares of the electric vehicle producer’s stock worth $57,337,000 after purchasing an additional 7,633 shares during the last quarter. Finally, Clean Energy Transition LLP boosted its position in Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after purchasing an additional 6,764,300 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Truist Financial reiterated a “hold” rating and issued a $360.00 target price on shares of Tesla in a research note on Thursday, January 2nd. HSBC reissued a “reduce” rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. The Goldman Sachs Group raised their price target on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Jefferies Financial Group increased their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Finally, Evercore ISI lifted their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $299.33.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock worth $213,451,751 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 3.1 %

Tesla stock opened at $426.50 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 1.37 and a current ratio of 1.84. The firm has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The company has a 50 day moving average price of $389.94 and a 200 day moving average price of $288.09.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. Research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current 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.