BIP Wealth LLC Purchases 1,878 Shares of Tesla, Inc. (NASDAQ:TSLA)

BIP Wealth LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 45.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,002 shares of the electric vehicle producer’s stock after purchasing an additional 1,878 shares during the period. BIP Wealth LLC’s holdings in Tesla were worth $1,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of TSLA. Wyrmwood Management LLC acquired a new position in shares of Tesla during the 4th quarter worth approximately $25,000. Lam Group Inc. purchased a new position in shares of Tesla during the 4th quarter worth $25,000. Mendota Financial Group LLC grew its holdings 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 period. Ogorek Anthony Joseph NY ADV lifted 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 worth $35,000 after acquiring an additional 69 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. lifted its stake in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Guggenheim reissued a “sell” rating and set a $122.00 target price on shares of Tesla in a research note on Tuesday. UBS Group decreased their target price on Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price target on shares of Tesla in a research report on Monday. Redburn Atlantic assumed coverage on Tesla in a research report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday. Eight equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $186.22.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $17.45 on Wednesday, hitting $162.13. The company had a trading volume of 180,807,331 shares, compared to its average volume of 103,011,320. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The business has a 50 day moving average of $176.28 and a 200 day moving average of $208.91. The company has a market cap of $516.35 billion, a PE ratio of 37.62, a PEG ratio of 3.75 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling

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 transaction of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, 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. Over the last ninety days, insiders have sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is owned by company insiders.

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.