Steele Capital Management Inc. Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Steele Capital Management Inc. purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,285 shares of the electric vehicle producer’s stock, valued at approximately $1,065,000.

Several other large investors have also recently bought and sold shares of the company. Holderness Investments Co. raised its stake in Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares in the last quarter. SCS Capital Management LLC lifted its holdings in shares of Tesla by 0.3% during the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after acquiring an additional 45 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after acquiring an additional 45 shares during the last quarter. ML & R Wealth Management LLC raised its position in Tesla by 2.6% during the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock valued at $455,000 after purchasing an additional 46 shares in the last quarter. Finally, LCM Capital Management Inc lifted its stake in Tesla by 3.5% during the third quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock worth $344,000 after purchasing an additional 46 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 in the last ninety days. 20.90% of the stock is currently owned by corporate insiders.

Tesla Stock Up 15.3 %

NASDAQ TSLA traded up $25.76 during trading hours on Monday, reaching $194.05. 243,386,278 shares of the company’s stock traded hands, compared to its average volume of 105,090,164. The firm has a market cap of $618.86 billion, a PE ratio of 48.47, a PEG ratio of 4.45 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The firm has a 50-day simple moving average of $175.04 and a 200 day simple moving average of $207.22.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. China Renaissance started coverage on Tesla in a research report on Monday, February 26th. They issued a “hold” rating for the company. Wells Fargo & Company reduced their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, April 12th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. UBS Group decreased their price objective on Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Finally, Sanford C. Bernstein dropped their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $184.32.

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.