Fortress Financial Group LLC Purchases New Shares in Tesla, Inc. (NASDAQ:TSLA)

Fortress Financial Group LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,891 shares of the electric vehicle producer’s stock, valued at approximately $1,168,000. Tesla accounts for about 1.2% of Fortress Financial Group LLC’s holdings, making the stock its 20th largest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Transcendent Capital Group LLC purchased a new stake in Tesla in the third quarter worth $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla in the fourth quarter worth $46,000. PayPay Securities Corp increased its stake in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the period. Peterson Financial Group Inc. purchased a new stake in Tesla in the third quarter worth $35,000. Finally, Finley Financial LLC purchased a new stake in Tesla in the fourth quarter worth $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock worth $195,995,200 over the last three months. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TSLA shares. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research note on Monday, February 10th. Piper Sandler raised their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Evercore ISI raised their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Guggenheim restated a “sell” rating on shares of Tesla in a research note on Tuesday, February 25th. Finally, UBS Group raised their price target on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research note on Thursday, January 30th. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $318.77.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $293.33 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market cap of $943.49 billion, a PE ratio of 143.79, a P/E/G ratio of 5.86 and a beta of 2.34. The business has a 50-day simple moving average of $385.35 and a two-hundred day simple moving average of $316.70. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

About Tesla

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.