Sara Bay Financial Invests $516,000 in Tesla, Inc. (NASDAQ:TSLA)

Sara Bay Financial bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,959 shares of the electric vehicle producer’s stock, valued at approximately $516,000.

Other institutional investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $56,600,000. Stephens Consulting LLC increased its holdings in Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. increased its stake in Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after purchasing an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. purchased a new position in shares of Tesla during the fourth quarter worth about $8,158,000. Finally, Vontobel Holding Ltd. grew its position in Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after purchasing an additional 60,342 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction 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 sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 870,721 shares of company stock worth $286,248,728. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Truist Financial set a $280.00 price target on Tesla in a research note on Tuesday, April 22nd. Robert W. Baird lowered their price target on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 23rd. BNP Paribas set a $137.00 price objective on Tesla and gave the company an “underperform” rating in a research report on Wednesday, April 16th. Finally, Raymond James downgraded shares of Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $294.27.

Tesla Trading Up 3.7%

Shares of TSLA opened at $295.14 on Friday. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business’s fifty day moving average is $292.17 and its 200-day moving average is $333.62. The firm has a market cap of $950.63 billion, a price-to-earnings ratio of 144.68, a PEG ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the firm posted $0.45 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Profile

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.