Raleigh Capital Management Inc. Acquires 1,474 Shares of Tesla, Inc. (NASDAQ:TSLA)

Raleigh Capital Management Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,035 shares of the electric vehicle producer's stock after acquiring an additional 1,474 shares during the period. Raleigh Capital Management Inc.'s holdings in Tesla were worth $2,033,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter valued at about $29,000. Clean Yield Group raised its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the 3rd quarter worth approximately $35,000. M&R Capital Management Inc. boosted its holdings 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 valued at $36,000 after acquiring an additional 100 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Tesla during the second quarter valued at approximately $48,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Glj Research reaffirmed a "sell" rating and set a $24.86 price target on shares of Tesla in a research note on Friday, January 3rd. Piper Sandler lifted their target price on Tesla from $315.00 to $500.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Jefferies Financial Group boosted their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a "hold" rating in a research report on Thursday, November 14th. Roth Mkm raised shares of Tesla from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, Royal Bank of Canada increased their target price on shares of Tesla from $249.00 to $313.00 and gave the company an "outperform" rating in a research note on Friday, November 15th. Eight analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $313.84.

Tesla Stock Down 1.4 %

NASDAQ:TSLA traded down $5.80 during trading hours on Friday, reaching $406.58. The company's stock had a trading volume of 56,102,963 shares, compared to its average volume of 67,394,624. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The business's 50-day moving average is $398.82 and its 200-day moving average is $294.26. 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 company has a market cap of $1.31 trillion, a price-to-earnings ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30.

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

Insider Buying and Selling at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company's stock, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's 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 directly owns 105,032 shares in the company, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock worth $212,451,751 over the last 90 days. Insiders own 20.70% of the company's stock.

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.