Golden State Equity Partners Buys 7,179 Shares of Tesla, Inc. (NASDAQ:TSLA)

Golden State Equity Partners lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 117.4% during the fourth quarter, Holdings Channel reports. The fund owned 13,295 shares of the electric vehicle producer’s stock after acquiring an additional 7,179 shares during the quarter. Tesla accounts for 0.8% of Golden State Equity Partners’ holdings, making the stock its 23rd largest position. Golden State Equity Partners’ holdings in Tesla were worth $3,304,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wyrmwood Management LLC bought a new stake in shares of Tesla during the 4th quarter worth $25,000. Lam Group Inc. bought a new position in shares of Tesla in the fourth quarter worth about $25,000. Mendota Financial Group LLC lifted its position in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Ogorek Anthony Joseph NY ADV boosted its stake in Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 69 shares during the period. Finally, Kathleen S. Wright Associates Inc. increased its position in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 in the last ninety days. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $168.29 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $175.04 and its 200 day simple moving average is $207.61. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a market capitalization of $536.71 billion, a PE ratio of 42.93, a PEG ratio of 4.45 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS. On average, research analysts predict that Tesla, Inc. will post 1.97 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on TSLA shares. Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and cut their target price for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday. Edward Jones downgraded shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Wells Fargo & Company decreased their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday, April 12th. Finally, TD Cowen dropped their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $186.70.

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.