Sunbelt Securities Inc. Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sunbelt Securities Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 70.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,218 shares of the electric vehicle producer’s stock after purchasing an additional 14,530 shares during the quarter. Tesla accounts for approximately 1.3% of Sunbelt Securities Inc.’s investment portfolio, making the stock its 10th largest position. Sunbelt Securities Inc.’s holdings in Tesla were worth $14,700,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new stake in shares of Tesla during the 4th quarter worth $629,000. Breed s Hill Capital LLC acquired a new position in Tesla during the fourth quarter worth about $645,000. Vise Technologies Inc. lifted its holdings in shares of Tesla by 56.9% in the fourth quarter. Vise Technologies Inc. now owns 34,038 shares of the electric vehicle producer’s stock worth $13,746,000 after acquiring an additional 12,342 shares during the last quarter. Retirement Planning Group LLC boosted its stake in shares of Tesla by 19.3% in the 4th quarter. Retirement Planning Group LLC now owns 1,660 shares of the electric vehicle producer’s stock valued at $670,000 after purchasing an additional 268 shares in the last quarter. Finally, Pinnacle Wealth Management LLC grew its holdings in shares of Tesla by 1.0% during the 4th quarter. Pinnacle Wealth Management LLC now owns 9,263 shares of the electric vehicle producer’s stock valued at $3,741,000 after purchasing an additional 95 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the transaction, the chief financial officer now owns 23,084 shares in the company, valued at approximately $6,833,325.68. This represents a 20.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,623 shares of company stock valued at $116,650,831. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TSLA. Wall Street Zen downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Benchmark reiterated a “buy” rating and issued a $350.00 price target on shares of Tesla in a research note on Wednesday, April 23rd. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research report on Tuesday, April 22nd. Piper Sandler set a $400.00 target price on Tesla in a research report on Tuesday, May 6th. Finally, TD Cowen raised Tesla from a “hold” rating to a “buy” rating and lifted their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $289.43.

Tesla Trading Up 1.9%

NASDAQ TSLA opened at $341.04 on Friday. The stock has a market capitalization of $1.10 trillion, a P/E ratio of 167.18, a P/E/G ratio of 5.86 and a beta of 2.43. The business has a 50 day simple moving average of $275.05 and a 200 day simple moving average of $332.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the business earned $0.45 EPS. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share 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.