Graney & King LLC Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Graney & King LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 207 shares of the electric vehicle producer’s stock, valued at approximately $84,000.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Horrell Capital Management Inc. increased its stake in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. boosted its holdings in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in Tesla during the 4th quarter valued at $38,000. Cyrus J. Lawrence LLC bought a new position in Tesla in the fourth quarter valued at about $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the fourth quarter worth approximately $46,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA opened at $287.95 on Wednesday. The stock has a market cap of $926.20 billion, a PE ratio of 141.15, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a fifty day moving average price of $330.52 and a 200 day moving average price of $322.04. 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 released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on TSLA. The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. reduced their price target on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. Guggenheim cut their target price on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a report on Wednesday, March 12th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $404.00 price objective on shares of Tesla in a research report on Monday, March 17th. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $318.93.

Insider Buying and Selling

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

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.