Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Pacific Center for Financial Services

Pacific Center for Financial Services boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 1,616.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 103 shares of the electric vehicle producer’s stock after purchasing an additional 97 shares during the quarter. Pacific Center for Financial Services’ holdings in Tesla were worth $42,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hengehold Capital Management LLC lifted its position in Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after acquiring an additional 24 shares in the last quarter. Strategic Investment Advisors MI lifted its position in Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after acquiring an additional 24 shares in the last quarter. Vista Finance LLC lifted its position in Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after acquiring an additional 25 shares in the last quarter. Prospect Financial Services LLC lifted its position in Tesla by 0.3% in the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after acquiring an additional 26 shares in the last quarter. Finally, Jmac Enterprises LLC lifted its position in Tesla by 0.7% in the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock valued at $1,569,000 after acquiring an additional 26 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $350.11, for a total transaction of $1,050,330.00. Following the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $9,435,464.50. This trade represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,623 shares of company stock valued at $116,650,831 in the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $334.62 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.08 trillion, a P/E ratio of 164.03, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The firm has a 50-day moving average price of $272.99 and a two-hundred day moving average price of $331.41.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during 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 in the prior year, the firm earned $0.45 EPS. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several analyst reports. Argus set a $410.00 price target on shares of Tesla in a research report on Thursday, April 24th. Benchmark reissued a “buy” rating and set a $350.00 price target on shares of Tesla in a research report on Wednesday, April 23rd. HSBC cut their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Finally, Truist Financial set a $280.00 price target on shares of Tesla in a research 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $289.43.

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.