Clune & Associates LTD. Buys New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Clune & Associates LTD. bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,143 shares of the electric vehicle producer’s stock, valued at approximately $462,000.

A number of other large investors have also recently bought and sold shares of the company. Hengehold Capital Management LLC boosted its position in Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares during the last quarter. Strategic Investment Advisors MI boosted its position in Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares in the last quarter. Acropolis Investment Management LLC boosted its position in Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD boosted its position in Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after purchasing an additional 25 shares in the last quarter. Finally, Vista Finance LLC boosted its position in Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $32,643,400. 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 link. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were 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 $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on TSLA. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Roth Mkm upgraded 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 research report on Monday, December 2nd. Morgan Stanley lowered their price objective on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research report on Friday. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Finally, UBS Group reduced their target price on Tesla from $259.00 to $225.00 and set a “sell” rating for the company 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $318.93.

Tesla Stock Performance

NASDAQ TSLA opened at $248.71 on Monday. The stock has a market cap of $799.98 billion, a PE ratio of 121.92, a P/E/G 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. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a fifty day simple moving average of $335.19 and a 200-day simple moving average of $321.15.

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 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%. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.