Landing Point Financial Group LLC Invests $577,000 in Tesla, Inc. (NASDAQ:TSLA)

Landing Point Financial Group LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,430 shares of the electric vehicle producer's stock, valued at approximately $577,000. Tesla accounts for 0.4% of Landing Point Financial Group LLC's investment portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC boosted its position in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. Strategic Financial Concepts LLC lifted its position in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after acquiring an additional 8,637,195 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Tesla by 55,181.0% in the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer's stock worth $1,769,899,000 after buying an additional 4,374,746 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Up 5.5 %

TSLA traded up $13.10 on Wednesday, hitting $251.07. The company had a trading volume of 149,174,065 shares, compared to its average volume of 106,828,078. 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, Inc. has a 52-week low of $157.51 and a 52-week high of $488.54. The firm has a market capitalization of $807.56 billion, a P/E ratio of 123.07, a P/E/G ratio of 5.86 and a beta of 2.58. The stock has a fifty day simple moving average of $269.39 and a 200-day simple moving average of $322.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. 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 fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TSLA. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Evercore ISI increased their price objective on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a research note on Friday, January 3rd. Benchmark reiterated a "buy" rating and set a $350.00 price target on shares of Tesla in a research note on Wednesday. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Finally, Mizuho lowered their price objective on shares of Tesla from $375.00 to $325.00 and set an "outperform" rating for the company in a research note on Wednesday. Ten equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $283.24.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $41,745,581.15. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company's stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock valued at $123,791,123 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

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.