Rahlfs Capital LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Rahlfs Capital LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,055 shares of the electric vehicle producer's stock, valued at approximately $426,000.

Several other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock worth $955,052,000 after purchasing an additional 194,796 shares during the period. United Bank bought a new stake in Tesla during the third quarter valued at about $287,000. Quarry LP boosted its stake in shares of Tesla by 184.7% in the third quarter. Quarry LP now owns 689 shares of the electric vehicle producer's stock worth $180,000 after acquiring an additional 447 shares during the period. Stifel Financial Corp lifted its holdings in Tesla by 4.4% in the 3rd quarter. Stifel Financial Corp now owns 516,398 shares of the electric vehicle producer's stock worth $135,106,000 after purchasing an additional 21,727 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Tesla during the 3rd quarter worth approximately $690,000. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. The Goldman Sachs Group lowered their price target on Tesla from $320.00 to $275.00 and set a "neutral" rating for the company in a report on Thursday. Truist Financial cut their price target on Tesla from $373.00 to $280.00 and set a "hold" rating on the stock in a research note on Thursday. Wells Fargo & Company reduced their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Finally, Benchmark began coverage on Tesla in a report on Wednesday, February 12th. They set a "buy" rating and a $475.00 target price for the company. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus target price of $305.31.

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Insider Activity at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now directly owns 1,463,220 shares of the company's stock, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 370,228 shares of company stock valued at $122,791,123. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

TSLA stock traded down $6.14 during mid-day trading on Monday, reaching $233.29. 181,900,757 shares of the company's stock were exchanged, compared to its average volume of 94,625,450. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market cap of $750.38 billion, a price-to-earnings ratio of 114.36, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. 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 stock's 50 day moving average is $305.98 and its 200 day moving average is $324.24.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla 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.