Tolleson Wealth Management Inc. Purchases New Shares in Tesla, Inc. (NASDAQ:TSLA)

Tolleson Wealth Management Inc. purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 738 shares of the electric vehicle producer’s stock, valued at approximately $298,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla during the 4th quarter valued at $56,600,000. Stephens Consulting LLC increased its holdings in Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after purchasing an additional 891 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. increased its stake in shares of Tesla by 133.7% in the 4th 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 buying an additional 1,629 shares during the period. Harvard Management Co. Inc. acquired a new stake in shares of Tesla in the 4th quarter valued at $8,158,000. Finally, Ameritas Advisory Services LLC increased its stake in shares of Tesla by 104.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock valued at $23,242,000 after buying an additional 29,458 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $25,466,850. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,623 shares of company stock valued at $115,600,501 over the last three months. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group lowered their target price on Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Piper Sandler set a $400.00 target price on Tesla in a research note on Tuesday, May 6th. Guggenheim reissued a “sell” rating and issued a $170.00 target price on shares of Tesla in a research note on Thursday, April 24th. Finally, Truist Financial set a $280.00 target price on Tesla in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $289.43.

Tesla Stock Performance

TSLA stock opened at $349.98 on Friday. The firm has a market cap of $1.13 trillion, a PE ratio of 171.56, a P/E/G ratio of 5.86 and a beta of 2.43. The business’s 50-day moving average price is $267.35 and its two-hundred day moving average price is $330.09. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

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