Allen Capital Group LLC Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Allen Capital Group LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,230 shares of the electric vehicle producer’s stock after buying an additional 80 shares during the period. Allen Capital Group LLC’s holdings in Tesla were worth $554,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. MidWestOne Financial Group Inc. boosted its stake in Tesla by 3.3% during the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after purchasing an additional 15 shares during the period. City State Bank boosted its stake in Tesla by 3.3% during the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock valued at $315,000 after purchasing an additional 40 shares during the period. Linscomb & Williams Inc. boosted its stake in Tesla by 3.5% during the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock valued at $1,329,000 after purchasing an additional 42 shares during the period. Opal Wealth Advisors LLC lifted its stake in shares of Tesla by 1.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock worth $1,089,000 after acquiring an additional 42 shares during the period. Finally, Holderness Investments Co. lifted its stake in shares of Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after acquiring an additional 42 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

NASDAQ:TSLA opened at $156.16 on Wednesday. Tesla, Inc. has a one year low of $152.37 and a one year high of $299.29. The stock has a market cap of $497.34 billion, a P/E ratio of 36.45, a PEG ratio of 4.25 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The company has a fifty day moving average price of $180.88 and a 200 day moving average price of $213.04.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 1.98 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 over the last ninety days. Insiders own 20.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein reduced their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, March 26th. Truist Financial dropped their target price on shares of Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a report on Wednesday, April 3rd. The Goldman Sachs Group dropped their target price on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Finally, Citigroup dropped their target price on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $198.81.

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.