Archer Investment Corp Has $513,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Archer Investment Corp cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,271 shares of the electric vehicle producer’s stock after selling 241 shares during the quarter. Archer Investment Corp’s holdings in Tesla were worth $513,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new stake in shares of Tesla during the third quarter worth $35,000. Finley Financial LLC acquired a new position in shares of Tesla during the fourth quarter worth $64,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after acquiring an additional 187 shares during the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Tesla during the 4th quarter valued at $91,000. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $328.50 on Wednesday. The firm has a 50 day moving average of $408.14 and a 200-day moving average of $305.46. 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 market capitalization of $1.06 trillion, a P/E ratio of 161.03, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

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 return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts predict that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 635,776 shares of company stock worth $231,335,112. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. Wedbush upped their price objective on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Morgan Stanley raised their price target on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Truist Financial boosted their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Finally, Barclays increased their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $321.71.

Tesla Company 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.