Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Denali Advisors LLC

Denali Advisors LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 106.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,114 shares of the electric vehicle producer’s stock after acquiring an additional 16,022 shares during the quarter. Tesla makes up 1.3% of Denali Advisors LLC’s portfolio, making the stock its 9th biggest position. Denali Advisors LLC’s holdings in Tesla were worth $12,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter worth about $29,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla in the fourth quarter worth about $46,000. PayPay Securities Corp lifted its stake in Tesla by 130.2% during the fourth 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 last quarter. Peterson Financial Group Inc. bought a new stake in Tesla during the third quarter worth approximately $35,000. Finally, Finley Financial LLC acquired a new position in Tesla in the fourth quarter worth approximately $64,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction of $27,590,250.00. Following the transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 523,386 shares of company stock worth $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $281.95 on Friday. The firm has a 50 day simple moving average of $387.91 and a 200 day simple moving average of $315.28. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market cap of $906.90 billion, a price-to-earnings ratio of 138.21, a PEG ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its quarterly 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%. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TSLA shares. The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a report on Monday, February 10th. Piper Sandler lifted their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research note on Tuesday, February 18th. Guggenheim reissued a “sell” rating on shares of Tesla in a research report on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. Ten investment analysts have rated the stock with a sell rating, eleven have given 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 currently has an average rating of “Hold” and a consensus target price of $319.57.

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.