PKS Advisory Services LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

PKS Advisory Services LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,870 shares of the electric vehicle producer’s stock, valued at approximately $755,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Horrell Capital Management Inc. raised its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust bought a new position in Tesla during the 4th quarter worth about $38,000. Cyrus J. Lawrence LLC purchased a new position in Tesla during the 4th quarter valued at about $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Tesla in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Mizuho reduced their price objective on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Piper Sandler dropped their price objective on Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Benchmark assumed coverage on shares of Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price for the company. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and raised their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $318.93.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s 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 directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $278.39 on Tuesday. The business’s 50 day moving average price is $332.69 and its 200-day moving average price is $321.49. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market capitalization of $895.45 billion, a PE ratio of 136.47, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.