Fagan Associates Inc. Purchases 111 Shares of Tesla, Inc. (NASDAQ:TSLA)

Fagan Associates Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,958 shares of the electric vehicle producer’s stock after acquiring an additional 111 shares during the period. Fagan Associates Inc.’s holdings in Tesla were worth $4,021,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swedbank AB increased its position in shares of Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Tesla by 34.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after buying an additional 1,059 shares during the period. BayBridge Capital Group LLC bought a new stake in shares of Tesla during the third quarter valued at about $209,000. Tarbox Family Office Inc. bought a new stake in shares of Tesla during the third quarter valued at about $284,000. Finally, Joel Isaacson & Co. LLC increased its position in shares of Tesla by 4.0% during the third quarter. Joel Isaacson & Co. LLC now owns 3,893 shares of the electric vehicle producer’s stock valued at $1,019,000 after buying an additional 150 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 in the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Trading Down 4.7 %

Tesla stock opened at $337.80 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a market capitalization of $1.09 trillion, a PE ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The business’s fifty day moving average is $400.17 and its 200 day moving average is $313.18.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the subject of several research reports. Robert W. Baird cut their target price on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Mizuho restated an “outperform” rating and set a $515.00 target price on shares of Tesla in a report on Thursday, January 30th. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Finally, New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a report on Monday, January 6th. Ten equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $319.57.

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.