Tolleson Wealth Management Inc. Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Tolleson Wealth Management Inc. bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 738 shares of the electric vehicle producer’s stock, valued at approximately $298,000.

Several other hedge funds have also modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new position in Tesla during the fourth quarter valued at $56,600,000. Stephens Consulting LLC raised its position in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares during the period. Strategic Family Wealth Counselors L.L.C. raised its position in Tesla by 133.7% during the fourth 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 position in Tesla during the fourth quarter valued at $8,158,000. Finally, Ameritas Advisory Services LLC raised its position in Tesla by 104.9% during the fourth 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 hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the 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 completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $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. In the last quarter, insiders sold 412,623 shares of company stock worth $115,600,501. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of TSLA stock opened at $349.98 on Friday. The stock has a 50 day moving average of $267.35 and a two-hundred day moving average of $330.09. 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, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The company 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.

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

Analysts Set New Price Targets

Several brokerages have weighed in on TSLA. Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. Canaccord Genuity Group dropped their target price on Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler set a $400.00 target price on Tesla in a research report on Tuesday, May 6th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and upped their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Mizuho upped their target price on Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.