McElhenny Sheffield Capital Management LLC Purchases 587 Shares of Tesla, Inc. (NASDAQ:TSLA)

McElhenny Sheffield Capital Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 54.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,657 shares of the electric vehicle producer's stock after purchasing an additional 587 shares during the quarter. Tesla comprises about 0.2% of McElhenny Sheffield Capital Management LLC's holdings, making the stock its 25th largest position. McElhenny Sheffield Capital Management LLC's holdings in Tesla were worth $669,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock worth $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter worth about $29,000. Clean Yield Group raised its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Tesla during the 3rd quarter valued at about $35,000. Finally, M&R Capital Management Inc. increased its position in shares of 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 purchasing an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Down 0.6 %

TSLA stock traded down $2.43 on Tuesday, reaching $424.07. 86,903,227 shares of the company traded hands, compared to its average volume of 82,108,117. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market cap of $1.36 trillion, a P/E ratio of 116.18, a price-to-earnings-growth ratio of 8.60 and a beta of 2.30. The firm has a fifty day simple moving average of $391.47 and a 200-day simple moving average of $290.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

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

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. StockNews.com raised shares of Tesla from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. UBS Group upped their target price on shares of Tesla from $197.00 to $226.00 and gave the stock a "sell" rating in a research report on Monday, November 25th. Glj Research restated a "sell" rating and set a $24.86 price target on shares of Tesla in a research report on Friday, January 3rd. Bank of America lowered Tesla from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company raised their price objective on Tesla from $120.00 to $125.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $304.94.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock worth $213,451,751 over the last 90 days. 20.70% of the stock is currently owned by insiders.

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.