Falcon Wealth Planning Buys 13,429 Shares of Tesla, Inc. (NASDAQ:TSLA)

Falcon Wealth Planning grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 142.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,827 shares of the electric vehicle producer's stock after acquiring an additional 13,429 shares during the quarter. Tesla comprises about 1.0% of Falcon Wealth Planning's investment portfolio, making the stock its 21st biggest holding. Falcon Wealth Planning's holdings in Tesla were worth $9,218,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the 3rd quarter valued at about $29,000. Clean Yield Group grew its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after buying an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new stake in Tesla during the third quarter valued at approximately $35,000. Quarry LP bought a new position in Tesla in the second quarter worth approximately $48,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer's stock worth $56,000 after acquiring an additional 187 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 2.2 %

Shares of NASDAQ TSLA traded up $8.53 during midday trading on Tuesday, hitting $392.21. The company's stock had a trading volume of 56,869,346 shares, compared to its average volume of 75,526,578. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.26 trillion, a P/E ratio of 192.26, a price-to-earnings-growth ratio of 6.79 and a beta of 2.34. The business's 50 day moving average is $405.12 and its two-hundred day moving average is $300.65.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results 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%. As a group, equities research analysts expect that Tesla, Inc. will post 2.82 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 553,386 shares of company stock worth $196,305,796 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Canaccord Genuity Group lifted their target price on Tesla from $298.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Guggenheim reiterated a "sell" rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Phillip Securities cut shares of Tesla from a "moderate sell" rating to a "strong sell" rating in a research note on Wednesday, November 13th. Piper Sandler upped their price target on shares of Tesla from $315.00 to $500.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley raised their price objective on shares of Tesla from $400.00 to $430.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Nine investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $318.31.

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.