Investors Research Corp Has $227,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Investors Research Corp trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 561 shares of the electric vehicle producer’s stock after selling 73 shares during the quarter. Investors Research Corp’s holdings in Tesla were worth $227,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in Tesla in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. purchased a new stake in Tesla in the 3rd quarter valued at $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla in the 4th quarter valued at $46,000. PayPay Securities Corp raised its position in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in Tesla in the 4th quarter valued at $55,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Truist Financial increased their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and raised their target price for the company from $180.00 to $388.00 in a research report on Friday. Finally, Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $326.31.

Tesla Stock Down 15.4 %

Shares of NASDAQ TSLA opened at $222.15 on Tuesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The business has a 50-day simple moving average of $363.87 and a two-hundred day simple moving average of $319.46. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $714.55 billion, a P/E ratio of 108.90, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 422,452 shares of company stock valued at $153,659,530 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

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.