Spahn Wealth & Retirement LLC Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

Spahn Wealth & Retirement LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 19,351 shares of the electric vehicle producer's stock, valued at approximately $7,815,000. Tesla comprises 5.1% of Spahn Wealth & Retirement LLC's investment portfolio, making the stock its 5th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. increased its position in shares of Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after purchasing an additional 194,796 shares during the last quarter. United Bank purchased a new stake in Tesla in the third quarter worth approximately $287,000. Hilltop Holdings Inc. grew its position in Tesla by 47.6% during the third quarter. Hilltop Holdings Inc. now owns 7,742 shares of the electric vehicle producer's stock valued at $2,026,000 after acquiring an additional 2,495 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Tesla by 4.6% in the 3rd quarter. Janus Henderson Group PLC now owns 444,091 shares of the electric vehicle producer's stock worth $116,184,000 after acquiring an additional 19,342 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Tesla in the 3rd quarter worth approximately $13,516,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ:TSLA traded down $15.48 during mid-day trading on Thursday, hitting $267.28. The company's stock had a trading volume of 135,622,518 shares, compared to its average volume of 94,233,690. Tesla, Inc. has a 1 year low of $138.80 and a 1 year 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. The stock has a market cap of $859.71 billion, a price-to-earnings ratio of 131.02, a PEG ratio of 5.86 and a beta of 2.50. The business's fifty day moving average is $309.32 and its two-hundred day moving average is $322.81.

Remove Ads

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 over the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Royal Bank of Canada decreased their target price on shares of Tesla from $440.00 to $320.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Morgan Stanley lowered their target price on Tesla from $430.00 to $410.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Robert W. Baird dropped their target price on Tesla from $440.00 to $370.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Wedbush reaffirmed an "outperform" rating and issued a $550.00 price target on shares of Tesla in a research note on Thursday, March 27th. Finally, Wells Fargo & Company dropped their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $312.65.

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.