Unified Investment Management Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Unified Investment Management acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 540 shares of the electric vehicle producer’s stock, valued at approximately $218,000.

Other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the third quarter worth approximately $29,000. Peterson Financial Group Inc. purchased a new position in Tesla during the 3rd quarter worth $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla in the 4th quarter worth $46,000. PayPay Securities Corp boosted its holdings in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares in the last quarter. Finally, Finley Financial LLC acquired a new position in shares of Tesla during the fourth quarter worth about $64,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 4.4 %

NASDAQ TSLA opened at $272.11 on Wednesday. The firm has a market capitalization of $875.24 billion, a price-to-earnings ratio of 133.39, a PEG ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company’s 50 day moving average price is $378.63 and its 200 day moving average price is $318.40.

Tesla (NASDAQ:TSLA) last posted its earnings results 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%. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TSLA shares. Guggenheim reaffirmed a “sell” rating on shares of Tesla in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a report on Monday. Morgan Stanley reaffirmed a “top pick” rating and set a $430.00 price target on shares of Tesla in a research note on Monday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $315.33.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 303,996 shares of company stock valued at $118,467,387 over the last quarter. Company insiders own 20.70% of the company’s stock.

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.