Cullen Investment Group LTD. Purchases 48 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cullen Investment Group LTD. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,439 shares of the electric vehicle producer’s stock after acquiring an additional 48 shares during the period. Cullen Investment Group LTD.’s holdings in Tesla were worth $1,389,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Grandview Asset Management LLC increased its holdings in Tesla by 12.4% during the 4th quarter. Grandview Asset Management LLC now owns 7,659 shares of the electric vehicle producer’s stock worth $3,093,000 after purchasing an additional 844 shares in the last quarter. Dale Q Rice Investment Management Ltd bought a new position in shares of Tesla in the 4th quarter valued at about $6,329,000. TPG Financial Advisors LLC grew its holdings in shares of Tesla by 92.0% in the 4th quarter. TPG Financial Advisors LLC now owns 1,864 shares of the electric vehicle producer’s stock valued at $753,000 after acquiring an additional 893 shares in the last quarter. Marcum Wealth LLC grew its holdings in shares of Tesla by 3.0% in the 4th quarter. Marcum Wealth LLC now owns 7,367 shares of the electric vehicle producer’s stock valued at $2,975,000 after acquiring an additional 213 shares in the last quarter. Finally, Gunderson Capital Management Inc. bought a new position in shares of Tesla in the 4th quarter valued at about $9,021,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock worth $213,451,751 over the last quarter. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TSLA shares. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a report on Thursday, October 24th. Stifel Nicolaus lifted their price target on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Truist Financial reiterated a “hold” rating and set a $360.00 price target on shares of Tesla in a report on Thursday, January 2nd. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $296.60.

Tesla Stock Performance

Shares of Tesla stock opened at $396.36 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 108.59, a P/E/G ratio of 10.80 and a beta of 2.30. The company’s fifty day moving average is $382.71 and its 200 day moving average is $284.69.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

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.