Founders Grove Wealth Partners LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Founders Grove Wealth Partners LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,027 shares of the electric vehicle producer’s stock, valued at approximately $1,626,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abich Financial Wealth Management LLC lifted its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the 3rd quarter valued at about $29,000. Clean Yield Group boosted its stake in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Tesla during the third quarter valued at approximately $35,000. Finally, M&R Capital Management Inc. raised its stake in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA opened at $428.22 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.37 trillion, a P/E ratio of 117.32, a P/E/G ratio of 6.53 and a beta of 2.30. The business’s 50 day moving average price is $382.71 and its 200-day moving average price is $284.69. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on TSLA shares. Stifel Nicolaus increased their target price on shares of Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a report on Monday, January 6th. UBS Group lifted their price objective on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a report on Monday, November 25th. Royal Bank of Canada increased their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Truist Financial reaffirmed a “hold” rating and issued a $360.00 price target on shares of Tesla in a research note on Thursday, January 2nd. Finally, The Goldman Sachs Group increased their price objective on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $299.33.

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.