Saxon Interests Inc. Invests $211,000 in Tesla, Inc. (NASDAQ:TSLA)

Saxon Interests Inc. bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, Holdings Channel reports. The firm bought 523 shares of the electric vehicle producer’s stock, valued at approximately $211,000.

Other hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter worth about $29,000. Clean Yield Group raised its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Abich Financial Wealth Management LLC raised its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter worth about $35,000. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 621,886 shares of company stock worth $213,451,751. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Up 3.1 %

TSLA opened at $426.50 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The business has a fifty day simple moving average of $389.94 and a 200-day simple moving average of $288.09. The firm has a market cap of $1.37 trillion, a P/E ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the business posted $0.53 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of analyst reports. Royal Bank of Canada upped their price target on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Cantor Fitzgerald increased their target price on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and increased their target price for the company from $230.00 to $515.00 in a report on Tuesday, December 17th. Finally, Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $299.33.

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.