Floyd Financial Group LLC Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

Floyd Financial Group LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,949 shares of the electric vehicle producer’s stock, valued at approximately $1,954,000. Tesla accounts for approximately 1.6% of Floyd Financial Group LLC’s portfolio, making the stock its 20th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC raised 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 valued at $52,124,000 after purchasing an additional 184,459 shares in the last quarter. Destination Wealth Management raised its stake in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after buying an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd lifted its holdings in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares during the period. MML Investors Services LLC boosted its position in shares of Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after acquiring an additional 1,741 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their price objective on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Jefferies Financial Group upped their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. UBS Group increased their target price on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. Finally, Truist Financial restated a “hold” rating and issued a $360.00 price target on shares of Tesla in a research report on Thursday, January 2nd. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $299.33.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock valued at $213,451,751 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Up 8.0 %

NASDAQ:TSLA opened at $428.22 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 117.32, a PEG ratio of 10.80 and a beta of 2.30. The business’s 50-day moving average price is $382.71 and its two-hundred day moving average price is $284.69.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. On average, equities analysts expect that Tesla, Inc. will post 1.99 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.