Legacy Financial Group Inc. Has $251,000 Position in Tesla, Inc. $TSLA

Legacy Financial Group Inc. decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 15.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 791 shares of the electric vehicle producer’s stock after selling 149 shares during the period. Legacy Financial Group Inc.’s holdings in Tesla were worth $251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Bison Wealth LLC increased its holdings in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after buying an additional 3,558 shares in the last quarter. Trilogy Capital Inc. raised its position in Tesla by 19.0% in the 1st quarter. Trilogy Capital Inc. now owns 5,101 shares of the electric vehicle producer’s stock valued at $1,322,000 after purchasing an additional 813 shares during the last quarter. Finally, Caliber Wealth Management LLC KS acquired a new stake in shares of Tesla in the first quarter valued at $628,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TSLA shares. HSBC reiterated a “reduce” rating on shares of Tesla in a research report on Monday, November 17th. Canaccord Genuity Group lowered their target price on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. William Blair reiterated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Melius Research set a $520.00 target price on shares of Tesla and gave the company a “buy” rating in a research note on Monday, October 13th. Finally, Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $394.31.

Tesla Stock Down 1.0%

Tesla stock opened at $391.09 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The company has a fifty day simple moving average of $433.55 and a 200 day simple moving average of $364.93. The company has a market cap of $1.30 trillion, a P/E ratio of 260.73, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by 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.