Tesla, Inc. (NASDAQ:TSLA) Stock Position Lifted by Financial Management Network Inc.

Financial Management Network Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,761 shares of the electric vehicle producer’s stock after buying an additional 368 shares during the period. Tesla makes up approximately 0.9% of Financial Management Network Inc.’s investment portfolio, making the stock its 29th largest position. Financial Management Network Inc.’s holdings in Tesla were worth $4,417,000 as of its most recent SEC filing.

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

Insider Activity

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 75,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $337.80 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a market cap of $1.09 trillion, a PE ratio of 165.59, a PEG ratio of 5.97 and a beta of 2.34. The stock’s 50-day moving average price is $400.17 and its two-hundred day moving average price is $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 net margin of 7.26% and a return on equity of 10.31%. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a report on Thursday, January 30th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Morgan Stanley raised their price target on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Jefferies Financial Group boosted their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, Benchmark assumed coverage on Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price on the stock. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $326.50.

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.