Synergy Investment Management LLC Purchases Shares of 1,252 Tesla, Inc. (NASDAQ:TSLA)

Synergy Investment Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,252 shares of the electric vehicle producer’s stock, valued at approximately $506,000.

A number of other hedge funds also recently bought and sold shares of TSLA. Strategic Financial Concepts LLC raised its position in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Proficio Capital Partners LLC raised its position in Tesla by 55,181.0% in the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after purchasing an additional 4,374,746 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Tesla by 194.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after purchasing an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. Barclays increased their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Monday, February 10th. Truist Financial increased their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, Morgan Stanley reiterated a “top pick” rating and issued a $430.00 price objective on shares of Tesla in a report on Monday. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $315.33.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction 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 transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,996 shares of company stock valued at $118,467,387 in the last three months. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Down 4.4 %

Tesla stock opened at $272.11 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $378.63 and a two-hundred day moving average of $318.40. The stock 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. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current 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.