3,051 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by Morey & Quinn Wealth Partners LLC

Morey & Quinn Wealth Partners LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,051 shares of the electric vehicle producer's stock, valued at approximately $1,232,000. Tesla accounts for approximately 1.0% of Morey & Quinn Wealth Partners LLC's portfolio, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock worth $955,052,000 after purchasing an additional 194,796 shares during the last quarter. United Bank bought a new position in Tesla during the third quarter valued at approximately $287,000. Massachusetts Financial Services Co. MA lifted its stake in Tesla by 61.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 115,241 shares of the electric vehicle producer's stock valued at $30,151,000 after acquiring an additional 43,950 shares during the last quarter. Algert Global LLC bought a new stake in Tesla in the third quarter worth approximately $3,194,000. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of Tesla during the 3rd quarter valued at $207,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity

In related news, Director James R. Murdoch sold 54,776 shares of the firm'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 value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $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. In the last three months, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by company insiders.

Remove Ads

Tesla Stock Down 3.0 %

TSLA traded down $8.24 during trading hours on Friday, hitting $264.89. 91,757,263 shares of the company's stock were exchanged, compared to its average volume of 95,674,406. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market cap of $852.04 billion, a price-to-earnings ratio of 129.83, a PEG ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock's 50-day moving average is $324.59 and its two-hundred day moving average is $321.35.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TSLA shares. Roth Mkm upgraded shares of Tesla from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. StockNews.com lowered Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Robert W. Baird reduced 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. HSBC reduced their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research note on Thursday. Finally, UBS Group lowered their target price on shares of Tesla from $259.00 to $225.00 and set a "sell" rating on the stock in a research note on Monday, March 10th. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $318.34.

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.