J. L. Bainbridge & Co. Inc. Purchases 283 Shares of Tesla, Inc. (NASDAQ:TSLA)

J. L. Bainbridge & Co. Inc. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 14.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,179 shares of the electric vehicle producer’s stock after purchasing an additional 283 shares during the period. J. L. Bainbridge & Co. Inc.’s holdings in Tesla were worth $880,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TSLA. Peterson Financial Group Inc. bought a new position in Tesla during the 3rd quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla during the 4th quarter valued at about $46,000. Parkworth Wealth Management Inc. bought a new position in Tesla during the 4th quarter valued at about $47,000. PayPay Securities Corp lifted its stake in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares during the period. Finally, Rialto Wealth Management LLC bought a new position in Tesla during the 4th quarter valued at about $55,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.9 %

Shares of TSLA opened at $249.98 on Friday. The company has a market cap of $804.06 billion, a PE ratio of 122.54, a P/E/G ratio of 5.86 and a beta of 2.50. The business has a fifty day moving average of $351.31 and a 200 day moving average of $318.74. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 over the last three months. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TSLA. Mizuho reaffirmed an “outperform” rating and set a $515.00 price target on shares of Tesla in a research report on Thursday, January 30th. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research report on Tuesday. Robert W. Baird reduced their price target on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Finally, Bank of America reduced their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $325.65.

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.