Successful Portfolios LLC Invests $289,000 in Tesla, Inc. (NASDAQ:TSLA)

Successful Portfolios LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,162 shares of the electric vehicle producer’s stock, valued at approximately $289,000.

Several other hedge funds have also modified their holdings of TSLA. MidWestOne Financial Group Inc. grew its holdings in Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after purchasing an additional 15 shares during the last quarter. City State Bank grew its stake in shares of Tesla by 3.3% in the third quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock worth $315,000 after acquiring an additional 40 shares during the last quarter. Marcum Wealth LLC grew its stake in shares of Tesla by 0.6% in the third quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock worth $1,850,000 after acquiring an additional 41 shares during the last quarter. Linscomb & Williams Inc. grew its stake in shares of Tesla by 3.5% in the first quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after acquiring an additional 42 shares during the last quarter. Finally, Investors Research Corp grew its stake in shares of Tesla by 5.5% in the second quarter. Investors Research Corp now owns 801 shares of the electric vehicle producer’s stock worth $210,000 after acquiring an additional 42 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on TSLA. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. Sanford C. Bernstein decreased their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday. Piper Sandler decreased their price target on shares of Tesla from $295.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 5th. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Finally, The Goldman Sachs Group decreased their price target on shares of Tesla from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $207.04.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,598 shares of company stock valued at $36,952,434. Company insiders own 20.90% of the company’s stock.

Tesla Trading Up 1.2 %

Shares of TSLA traded up $2.16 during mid-day trading on Wednesday, reaching $179.83. 81,398,372 shares of the company were exchanged, compared to its average volume of 103,097,211. Tesla, Inc. has a 52 week low of $152.37 and a 52 week high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock has a market capitalization of $572.72 billion, a PE ratio of 41.72, a PEG ratio of 3.90 and a beta of 2.41. The business has a 50 day simple moving average of $188.49 and a two-hundred day simple moving average of $222.36.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same period in the prior year, the business earned $1.07 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 2.44 earnings per share for the current fiscal 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.