Legacy Financial Group LLC Invests $1.26 Million in Tesla, Inc. (NASDAQ:TSLA)

Legacy Financial Group LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,127 shares of the electric vehicle producer's stock, valued at approximately $1,263,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hengehold Capital Management LLC lifted its stake in Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock valued at $544,000 after acquiring an additional 24 shares during the period. Acropolis Investment Management LLC boosted its holdings in Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock worth $1,136,000 after purchasing an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD grew its position in Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock worth $2,950,000 after purchasing an additional 25 shares during the period. Avaii Wealth Management LLC lifted its holdings in shares of Tesla by 0.9% during the 4th quarter. Avaii Wealth Management LLC now owns 3,636 shares of the electric vehicle producer's stock valued at $1,468,000 after buying an additional 31 shares during the period. Finally, Cora Capital Advisors LLC boosted its stake in shares of Tesla by 3.6% in the 4th quarter. Cora Capital Advisors LLC now owns 881 shares of the electric vehicle producer's stock worth $356,000 after buying an additional 31 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $9.92 during midday trading on Thursday, reaching $399.02. 58,994,655 shares of the stock were exchanged, compared to its average volume of 72,967,914. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 109.21, a PEG ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $401.98 and a two-hundred day simple moving average of $297.28.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 13.07% and a return on equity of 10.24%. As a group, analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at $26,442,856.32. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 617,886 shares of company stock worth $212,451,751. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. UBS Group upped their price target on shares of Tesla from $197.00 to $226.00 and gave the company a "sell" rating in a research report on Monday, November 25th. Bank of America lowered Tesla from a "buy" rating to a "neutral" rating and boosted their price target for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Wedbush raised their target price on shares of Tesla from $515.00 to $550.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group boosted their price objective on Tesla from $254.00 to $278.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, HSBC restated a "reduce" rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Eight analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of "Hold" and an average target price of $317.28.

Tesla Company 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.