Financial Network Wealth Management LLC Invests $302,000 in Tesla, Inc. (NASDAQ:TSLA)

Financial Network Wealth Management LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 750 shares of the electric vehicle producer’s stock, valued at approximately $302,000.

A number of other institutional investors have also made changes to their positions in TSLA. World Investment Advisors LLC increased its stake in shares of Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management increased its stake in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares during the last quarter. Stephens Consulting LLC increased its stake in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after buying an additional 891 shares during the last quarter. Vinva Investment Management Ltd increased its stake in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC increased its stake in shares of Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after buying an additional 9,919 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

TSLA stock opened at $236.26 on Friday. The company has a market capitalization of $759.93 billion, a P/E ratio of 115.81, a PEG ratio of 5.86 and a beta of 2.50. The company has a 50-day simple moving average of $338.11 and a 200 day simple moving average of $319.44. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week 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.

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 analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % 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 valued at $166,849,043. 20.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TSLA shares. Wedbush restated an “outperform” rating and issued a $550.00 price target on shares of Tesla in a research note on Thursday. Guggenheim lowered their target price on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research note on Wednesday, March 12th. Piper Sandler lowered their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Finally, Benchmark assumed coverage on shares of Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $319.56.

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.