SlateStone Wealth LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

SlateStone Wealth LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 36.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,307 shares of the electric vehicle producer’s stock after acquiring an additional 614 shares during the period. SlateStone Wealth LLC’s holdings in Tesla were worth $932,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TSLA. Swedbank AB boosted its position in shares of Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after buying an additional 29,669 shares during the period. Principal Financial Group Inc. boosted its position in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the period. United Bank purchased a new position in shares of Tesla during the third quarter worth $287,000. Meridian Investment Counsel Inc. purchased a new position in shares of Tesla during the third quarter worth $230,000. Finally, Sather Financial Group Inc boosted its position in shares of Tesla by 18.9% during the third quarter. Sather Financial Group Inc now owns 1,207 shares of the electric vehicle producer’s stock worth $316,000 after buying an additional 192 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA stock opened at $249.98 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market cap of $804.06 billion, a price-to-earnings ratio of 122.54, a PEG ratio of 5.86 and a beta of 2.50. The firm has a 50 day moving average of $351.31 and a 200-day moving average of $320.31.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 477,228 shares of company stock worth $166,849,043. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Benchmark initiated coverage on Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective on the stock. Piper Sandler increased their price objective on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research note on Monday, January 6th. Finally, Glj Research reiterated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Nine investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $325.65.

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.