Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Spartan Planning & Wealth Management

Spartan Planning & Wealth Management boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 46.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,439 shares of the electric vehicle producer’s stock after acquiring an additional 1,399 shares during the period. Tesla accounts for approximately 1.2% of Spartan Planning & Wealth Management’s investment portfolio, making the stock its 19th biggest holding. Spartan Planning & Wealth Management’s holdings in Tesla were worth $1,103,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Apexium Financial LP boosted its holdings in Tesla by 736.8% in the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after purchasing an additional 21,972 shares during the period. Mount Vernon Associates Inc. MD boosted its holdings in shares of Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after acquiring an additional 350 shares during the period. Forum Financial Management LP boosted its holdings in shares of Tesla by 19.7% during the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after acquiring an additional 3,582 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in shares of Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after acquiring an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC boosted its holdings in shares of Tesla by 9.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after acquiring an additional 598 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSLA. Guggenheim reissued a “sell” rating and set a $122.00 price target on shares of Tesla in a report on Tuesday, April 23rd. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research report on Wednesday, April 24th. Piper Sandler restated an “overweight” rating and set a $205.00 price objective on shares of Tesla in a report on Monday, April 22nd. China Renaissance assumed coverage on Tesla in a report on Monday, February 26th. They set a “hold” rating on the stock. Finally, Barclays lowered their target price on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $185.90.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,855 shares of company stock worth $19,285,643. 20.90% of the stock is owned by corporate insiders.

Tesla Stock Up 5.3 %

Shares of TSLA stock opened at $187.44 on Tuesday. The stock has a 50 day moving average of $173.19 and a 200-day moving average of $194.61. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a market cap of $597.78 billion, a PE ratio of 47.82, a price-to-earnings-growth ratio of 4.41 and a beta of 2.32. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, equities analysts predict that Tesla, Inc. will post 1.87 EPS for the current year.

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.