Gruss & Co. LLC Invests $202,000 in Tesla, Inc. (NASDAQ:TSLA)

Gruss & Co. LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 500 shares of the electric vehicle producer’s stock, valued at approximately $202,000. Tesla comprises 0.9% of Gruss & Co. LLC’s holdings, making the stock its 23rd biggest holding.

A number of other institutional investors have also modified their holdings of TSLA. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter worth approximately $29,000. Peterson Financial Group Inc. purchased a new position in Tesla during the third quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla during the fourth quarter valued at approximately $46,000. PayPay Securities Corp increased its holdings in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the period. Finally, Finley Financial LLC purchased a new position in Tesla during the fourth quarter valued at approximately $64,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on TSLA. Barclays lifted their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Glj Research reissued a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Wednesday, February 12th. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Stifel Nicolaus cut their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, UBS Group lifted their price target on shares of Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a report on Thursday, January 30th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $318.77.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 403,996 shares of company stock valued at $153,721,387 over the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 2.8 %

Shares of NASDAQ:TSLA opened at $284.65 on Tuesday. The company has a market cap of $915.58 billion, a price-to-earnings ratio of 139.53, a PEG ratio of 5.86 and a beta of 2.34. The firm’s 50-day simple moving average is $382.44 and its 200-day simple moving average is $318.01. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

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 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%. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.