BG Investment Services Inc. Purchases New Stake in Tesla, Inc. (NASDAQ:TSLA)

BG Investment Services Inc. purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,918 shares of the electric vehicle producer's stock, valued at approximately $775,000. Tesla accounts for approximately 0.8% of BG Investment Services Inc.'s investment portfolio, making the stock its 20th largest holding.

Several other institutional investors have also modified their holdings of TSLA. Wambolt & Associates LLC raised its position in shares of Tesla by 6.6% during the fourth quarter. Wambolt & Associates LLC now owns 2,772 shares of the electric vehicle producer's stock valued at $1,119,000 after buying an additional 172 shares during the last quarter. Momentous Wealth Management Inc. acquired a new position in Tesla during the fourth quarter worth $258,000. Florida Financial Advisors LLC grew its holdings in Tesla by 1.8% during the fourth quarter. Florida Financial Advisors LLC now owns 5,282 shares of the electric vehicle producer's stock worth $2,134,000 after purchasing an additional 92 shares during the period. Aire Advisors LLC lifted its holdings in shares of Tesla by 3.7% during the fourth quarter. Aire Advisors LLC now owns 13,090 shares of the electric vehicle producer's stock worth $5,286,000 after buying an additional 468 shares in the last quarter. Finally, Potentia Wealth bought a new position in Tesla in the 4th quarter valued at about $4,181,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,228 shares of company stock worth $166,849,043. Insiders own 20.70% of the company's stock.

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Tesla Trading Down 3.1 %

Tesla stock traded down $8.52 during mid-day trading on Friday, hitting $264.61. 87,686,733 shares of the stock were exchanged, compared to its average volume of 93,023,128. The stock has a market capitalization of $851.11 billion, a price-to-earnings ratio of 129.44, a PEG ratio of 5.86 and a beta of 2.50. The firm's fifty day simple moving average is $324.59 and its two-hundred day simple moving average is $321.35. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

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 the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 15th. Benchmark assumed coverage on Tesla in a report on Wednesday, February 12th. They set a "buy" rating and a $475.00 price target on the stock. Stifel Nicolaus dropped their price target on shares of Tesla from $492.00 to $474.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and raised their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, February 10th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $318.34.

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.