Tallon Kerry Patrick Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

Tallon Kerry Patrick purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 985 shares of the electric vehicle producer’s stock, valued at approximately $374,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Tesla by 36.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 2,797 shares of the electric vehicle producer’s stock worth $554,000 after purchasing an additional 747 shares during the period. ProVise Management Group LLC increased its stake in Tesla by 12.8% during the second quarter. ProVise Management Group LLC now owns 5,190 shares of the electric vehicle producer’s stock valued at $1,027,000 after acquiring an additional 588 shares during the period. Brighton Jones LLC raised its holdings in Tesla by 11.5% in the 2nd quarter. Brighton Jones LLC now owns 80,872 shares of the electric vehicle producer’s stock valued at $16,003,000 after acquiring an additional 8,343 shares in the last quarter. Ieq Capital LLC lifted its position in shares of Tesla by 17.5% in the 2nd quarter. Ieq Capital LLC now owns 183,349 shares of the electric vehicle producer’s stock worth $36,281,000 after acquiring an additional 27,296 shares during the period. Finally, GM Advisory Group LLC grew its holdings in shares of Tesla by 3.5% during the 2nd quarter. GM Advisory Group LLC now owns 8,869 shares of the electric vehicle producer’s stock worth $1,755,000 after purchasing an additional 302 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,442,856.32. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock valued at $213,451,751 in the last 90 days. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

TSLA stock opened at $426.50 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.37 trillion, a P/E ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. The business’s fifty day moving average is $387.84 and its 200-day moving average is $286.58.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for 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%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the subject of several research reports. The Goldman Sachs Group raised their target price on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Wells Fargo & Company lifted their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Royal Bank of Canada lifted their price objective on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a report on Monday, January 6th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $299.33.

Tesla 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.