Congress Park Capital LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Congress Park Capital LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 572 shares of the electric vehicle producer’s stock, valued at approximately $231,000.

Other institutional investors also recently modified their holdings of the company. Bradley Foster & Sargent Inc. CT lifted its holdings in shares of Tesla by 36.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 2,797 shares of the electric vehicle producer’s stock worth $554,000 after acquiring an additional 747 shares during the last quarter. ProVise Management Group LLC increased its position in Tesla by 12.8% during the 2nd quarter. ProVise Management Group LLC now owns 5,190 shares of the electric vehicle producer’s stock worth $1,027,000 after purchasing an additional 588 shares in the last quarter. Brighton Jones LLC lifted its stake in Tesla by 11.5% in the 2nd quarter. Brighton Jones LLC now owns 80,872 shares of the electric vehicle producer’s stock valued at $16,003,000 after purchasing an additional 8,343 shares during the last quarter. Ieq Capital LLC boosted its position in Tesla by 17.5% in the second quarter. Ieq Capital LLC now owns 183,349 shares of the electric vehicle producer’s stock valued at $36,281,000 after buying an additional 27,296 shares in the last quarter. Finally, GM Advisory Group LLC grew its stake in shares of Tesla by 3.5% during the second quarter. GM Advisory Group LLC now owns 8,869 shares of the electric vehicle producer’s stock worth $1,755,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $426.50 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30. The company’s fifty day moving average price is $387.84 and its 200-day moving average price is $286.58.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Canaccord Genuity Group lifted their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and upped their price objective for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Guggenheim lifted their target price on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $299.33.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 621,886 shares of company stock valued at $213,451,751. 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.