Spinnaker Investment Group LLC Acquires Shares of 908 Tesla, Inc. (NASDAQ:TSLA)

Spinnaker Investment Group LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 908 shares of the electric vehicle producer's stock, valued at approximately $367,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter valued at $29,000. Clean Yield Group lifted its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter worth approximately $35,000. M&R Capital Management Inc. lifted its stake in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 100 shares during the period. Finally, Quarry LP bought a new position in Tesla in the 2nd quarter worth $48,000. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock worth $212,451,751 in the last three months. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TSLA shares. Piper Sandler lifted their target price on shares of Tesla from $315.00 to $500.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Morgan Stanley upped their target price on Tesla from $400.00 to $430.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Roth Capital upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Oppenheimer restated a "market perform" rating on shares of Tesla in a report on Tuesday, October 8th. Finally, HSBC reaffirmed a "reduce" rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $313.84.

Tesla Price Performance

Shares of TSLA stock traded down $5.80 on Friday, hitting $406.58. 56,102,963 shares of the stock traded hands, compared to its average volume of 67,394,624. The firm has a market cap of $1.31 trillion, a price-to-earnings ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a 50 day simple moving average of $398.82 and a two-hundred day simple moving average of $294.26. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

About Tesla

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.