Safeguard Investment Advisory Group LLC Has $2.38 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Safeguard Investment Advisory Group LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 6.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,884 shares of the electric vehicle producer’s stock after buying an additional 374 shares during the period. Tesla makes up approximately 0.7% of Safeguard Investment Advisory Group LLC’s portfolio, making the stock its 17th biggest position. Safeguard Investment Advisory Group LLC’s holdings in Tesla were worth $2,376,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TSLA. Wealth Group Ltd. bought a new stake in Tesla during the 4th quarter valued at $275,000. RMR Wealth Builders boosted its stake in Tesla by 72.0% in the 4th quarter. RMR Wealth Builders now owns 15,376 shares of the electric vehicle producer’s stock worth $6,209,000 after purchasing an additional 6,439 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Tesla during the fourth quarter valued at approximately $1,361,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Tesla by 33.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 710 shares of the electric vehicle producer’s stock worth $287,000 after buying an additional 176 shares during the last quarter. Finally, Nabity Jensen Investment Management Inc bought a new position in shares of Tesla during the 4th quarter valued at $240,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $8,085,000. This trade represents a 12.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 412,623 shares of company stock valued at $115,600,501. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $349.98 on Friday. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 171.56, a P/E/G ratio of 5.86 and a beta of 2.43. The firm’s 50-day moving average is $267.35 and its two-hundred day moving average is $329.59. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its earnings results 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the firm earned $0.45 EPS. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Mizuho raised their price objective on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Glj Research reissued a “sell” rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Finally, HSBC reduced their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $289.43.

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.