4,661 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Palacios Wealth Management LLC

Palacios Wealth Management LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,661 shares of the electric vehicle producer's stock, valued at approximately $1,935,000. Tesla accounts for about 2.1% of Palacios Wealth Management LLC's investment portfolio, making the stock its 11th largest position.

Several other hedge funds also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the 3rd quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new position in Tesla during the third quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the fourth quarter valued at approximately $46,000. PayPay Securities Corp boosted its position in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer's stock worth $49,000 after purchasing an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer's stock worth $56,000 after purchasing an additional 187 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 523,386 shares of company stock worth $195,995,200. Company insiders own 20.70% of the company's stock.

Tesla Trading Down 4.7 %

Shares of NASDAQ TSLA traded down $16.60 during midday trading on Friday, reaching $337.80. 73,720,762 shares of the stock were exchanged, compared to its average volume of 75,434,742. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market capitalization of $1.09 trillion, a P/E ratio of 165.59, a PEG ratio of 5.97 and a beta of 2.34. The company has a 50 day simple moving average of $400.17 and a 200 day simple moving average of $312.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Monday, February 10th. Barclays lifted their price target on Tesla from $270.00 to $325.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 15th. Glj Research reiterated a "sell" rating and set a $24.86 price target on shares of Tesla in a research report on Wednesday, February 12th. StockNews.com cut Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Finally, UBS Group upped their target price on Tesla from $226.00 to $259.00 and gave the stock a "sell" rating in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $326.50.

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.