Elm3 Financial Group LLC Acquires Shares of 644 Tesla, Inc. (NASDAQ:TSLA)

Elm3 Financial Group LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 644 shares of the electric vehicle producer’s stock, valued at approximately $260,000.

Several other institutional investors also recently bought and sold shares of the business. Retirement Planning Group LLC boosted its stake in shares of Tesla by 16.1% in the third quarter. Retirement Planning Group LLC now owns 1,392 shares of the electric vehicle producer’s stock worth $364,000 after acquiring an additional 193 shares during the last quarter. Carnegie Investment Counsel boosted its stake in shares of Tesla by 29.6% in the third quarter. Carnegie Investment Counsel now owns 6,630 shares of the electric vehicle producer’s stock worth $1,735,000 after acquiring an additional 1,515 shares during the last quarter. CHICAGO TRUST Co NA boosted its stake in shares of Tesla by 37.6% in the third quarter. CHICAGO TRUST Co NA now owns 2,197 shares of the electric vehicle producer’s stock worth $575,000 after acquiring an additional 600 shares during the last quarter. Douglas Lane & Associates LLC acquired a new stake in shares of Tesla in the third quarter worth approximately $209,000. Finally, VitalStone Financial LLC boosted its stake in shares of Tesla by 52.3% in the third quarter. VitalStone Financial LLC now owns 3,095 shares of the electric vehicle producer’s stock worth $810,000 after acquiring an additional 1,063 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 635,776 shares of company stock valued at $231,335,112. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 3.0 %

TSLA opened at $350.73 on Tuesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 171.93, a PEG ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a fifty day moving average price of $408.27 and a 200 day moving average price of $304.55.

Tesla (NASDAQ:TSLA) last released its earnings results 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 return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts expect that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TSLA. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, January 29th. Canaccord Genuity Group lifted their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $440.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Evercore ISI lifted their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Finally, Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, twelve 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, Tesla has an average rating of “Hold” and an average price target of $321.71.

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.