W.G. Shaheen & Associates DBA Whitney & Co Acquires 1,736 Shares of Tesla, Inc. (NASDAQ:TSLA)

W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 32.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,093 shares of the electric vehicle producer’s stock after acquiring an additional 1,736 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Tesla were worth $2,865,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in Tesla in the 3rd quarter valued at about $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Tesla in the 4th quarter valued at about $46,000. PayPay Securities Corp raised its holdings in 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 acquiring an additional 69 shares during the period. Peterson Financial Group Inc. bought a new position in Tesla in the 3rd quarter valued at about $35,000. Finally, Finley Financial LLC bought a new position in Tesla in the 4th quarter valued at about $64,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Monday, February 10th. Barclays lifted their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Wedbush set a $328.50 target price on shares of Tesla in a research note on Wednesday, February 12th. Finally, UBS Group lifted their price target on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research note on Thursday, January 30th. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $319.57.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 523,386 shares of company stock valued at $195,995,200. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $290.80 on Thursday. The company’s 50 day moving average is $390.99 and its 200-day moving average is $315.51. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $935.36 billion, a P/E ratio of 142.55, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

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 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%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share 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.