Mach 1 Financial Group LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Mach 1 Financial Group LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,238 shares of the electric vehicle producer’s stock after purchasing an additional 145 shares during the period. Mach 1 Financial Group LLC’s holdings in Tesla were worth $556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wyrmwood Management LLC purchased a new position in Tesla during the 4th quarter valued at about $25,000. Lam Group Inc. acquired a new stake in shares of Tesla during the 4th quarter worth about $25,000. Mendota Financial Group LLC raised 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 acquiring an additional 91 shares in the last quarter. Kathleen S. Wright Associates Inc. increased its position in Tesla by 111.1% during the fourth 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. Finally, Cordant Inc. acquired a new position in Tesla during the third quarter worth approximately $53,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 1.3 %

Tesla stock traded down $2.38 during trading on Wednesday, hitting $180.90. The company’s stock had a trading volume of 17,808,900 shares, compared to its average volume of 104,271,781. The stock has a market capitalization of $576.93 billion, a price-to-earnings ratio of 46.76, a P/E/G ratio of 5.28 and a beta of 2.39. The stock’s fifty day moving average is $174.71 and its 200 day moving average is $206.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Wall Street Analyst Weigh In

Several research firms have commented on TSLA. Wedbush reaffirmed an “outperform” rating and set a $275.00 price target on shares of Tesla in a research report on Monday. The Goldman Sachs Group cut their price target on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Wells Fargo & Company cut their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research report on Friday, April 12th. Morgan Stanley cut their price target on Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $184.32.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 over the last three months. 20.90% of the stock is owned by insiders.

Tesla Company 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.