Bullseye Investment Management LLC Invests $409,000 in Tesla, Inc. (NASDAQ:TSLA)

Bullseye Investment Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,078 shares of the electric vehicle producer’s stock, valued at approximately $409,000.

A number of other institutional investors have also recently added to or reduced their stakes in TSLA. Principal Financial Group Inc. raised its stake in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares during the period. United Bank purchased a new stake in shares of Tesla in the third quarter worth about $287,000. Quantbot Technologies LP acquired a new stake in shares of Tesla in the third quarter valued at about $687,000. Hantz Financial Services Inc. lifted its position in Tesla by 9.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 8,208 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 721 shares in the last quarter. Finally, White Knight Strategic Wealth Advisors LLC boosted its holdings in Tesla by 1.6% in the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 17,247 shares of the electric vehicle producer’s stock worth $4,512,000 after acquiring an additional 279 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 3.5 %

Shares of Tesla stock opened at $263.55 on Friday. The business has a fifty day simple moving average of $321.33 and a 200-day simple moving average of $322.34. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. 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 posted its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS 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 that occurred on 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 transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s 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 in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,228 shares of company stock valued at $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TSLA shares. Piper Sandler reduced their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Guggenheim dropped their target price on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research report on Wednesday, March 12th. Truist Financial raised their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, UBS Group cut their target price on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research report on Monday, March 10th. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $318.34.

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.