Bonfire Financial Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Bonfire Financial bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,742 shares of the electric vehicle producer's stock, valued at approximately $1,511,000. Tesla makes up approximately 1.4% of Bonfire Financial's investment portfolio, making the stock its 20th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hengehold Capital Management LLC increased its position in Tesla by 1.8% during the fourth 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 last quarter. Strategic Investment Advisors MI increased its position in Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock valued at $2,823,000 after acquiring an additional 24 shares during the last quarter. Acropolis Investment Management LLC increased its position in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock valued at $1,136,000 after acquiring an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD increased its position in Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock valued at $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Prospect Financial Services LLC increased its position in Tesla by 0.3% during the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer's stock valued at $3,029,000 after acquiring an additional 26 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSLA. Evercore ISI upped their price objective on Tesla from $195.00 to $275.00 and gave the company an "in-line" rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. upped their price objective on Tesla from $130.00 to $135.00 and gave the stock an "underweight" rating in a research note on Thursday, October 24th. Truist Financial increased their price target on Tesla from $351.00 to $373.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. Guggenheim reissued a "sell" rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, January 29th. Finally, StockNews.com lowered Tesla from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $326.50.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares of the company's stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Down 0.3 %

NASDAQ TSLA traded down $1.20 during midday trading on Tuesday, hitting $354.65. 27,747,998 shares of the company traded hands, compared to its average volume of 75,893,945. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $1.14 trillion, a PE ratio of 173.83, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company's 50-day simple moving average is $405.64 and its 200-day simple moving average is $309.75. 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 announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 research analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current 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.