3,051 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Morey & Quinn Wealth Partners LLC

Morey & Quinn Wealth Partners LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,051 shares of the electric vehicle producer’s stock, valued at approximately $1,232,000. Tesla comprises about 1.0% of Morey & Quinn Wealth Partners LLC’s investment portfolio, making the stock its 20th biggest holding.

Several other institutional investors have also bought and sold shares of TSLA. Principal Financial Group Inc. grew its stake in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after acquiring an additional 194,796 shares during the last quarter. United Bank purchased a new position in shares of Tesla in the 3rd quarter valued at about $287,000. Massachusetts Financial Services Co. MA raised its stake in shares of Tesla by 61.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 115,241 shares of the electric vehicle producer’s stock worth $30,151,000 after buying an additional 43,950 shares during the period. Algert Global LLC acquired a new position in Tesla during the third quarter worth $3,194,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in Tesla in the 3rd quarter valued at about $207,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.4 %

TSLA opened at $287.95 on Wednesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market capitalization of $926.20 billion, a PE ratio of 141.15, a PEG ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $330.52 and a two-hundred day moving average price of $322.04.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research reports. Barclays upped their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Piper Sandler reduced their price target on Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Finally, UBS Group cut their price target on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research note on Monday, March 10th. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $318.93.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated 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 owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Profile

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.