Allen Capital Group LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Allen Capital Group LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,230 shares of the electric vehicle producer’s stock after purchasing an additional 80 shares during the quarter. Allen Capital Group LLC’s holdings in Tesla were worth $554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wyrmwood Management LLC bought a new position in Tesla in the fourth quarter worth $25,000. Lam Group Inc. purchased a new stake in shares of Tesla during the fourth quarter valued at $25,000. Alpha Paradigm Partners LLC purchased a new stake in shares of Tesla during the third quarter valued at $27,000. Perkins Coie Trust Co boosted its position in shares of Tesla by 72.0% during the third quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 54 shares during the last quarter. Finally, Mendota Financial Group LLC boosted its position in Tesla by 202.2% in the fourth 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 last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $156.16 on Wednesday. Tesla, Inc. has a twelve month low of $152.37 and a twelve month high of $299.29. The stock has a market capitalization of $497.34 billion, a price-to-earnings ratio of 36.45, a P/E/G ratio of 4.25 and a beta of 2.39. The stock has a fifty day simple moving average of $180.88 and a two-hundred day simple moving average of $213.04. 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 (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm 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 posted $1.07 earnings per share. Tesla’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 1.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on 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. In the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on TSLA. Sanford C. Bernstein dropped their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 target price on shares of Tesla in a research report on Wednesday, March 27th. Piper Sandler decreased their price objective on Tesla from $225.00 to $205.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on Tesla from $200.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Finally, The Goldman Sachs Group decreased their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $198.81.

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.