Tesla, Inc. (NASDAQ:TSLA) Stake Raised by Paragon Financial Partners Inc.

Paragon Financial Partners Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 71.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,313 shares of the electric vehicle producer’s stock after purchasing an additional 963 shares during the period. Tesla makes up 0.7% of Paragon Financial Partners Inc.’s portfolio, making the stock its 26th biggest holding. Paragon Financial Partners Inc.’s holdings in Tesla were worth $934,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after purchasing an additional 1,022,589 shares in the last quarter. FMR LLC increased its position in shares of Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after acquiring an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after acquiring an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research analyst reports. Royal Bank of Canada increased their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Guggenheim increased their price objective on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. Truist Financial restated a “hold” rating and set a $360.00 price target on shares of Tesla in a report on Thursday, January 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, fifteen have given 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.com, Tesla presently has an average rating of “Hold” and an average price target of $313.84.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock valued at $212,451,751 over the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

TSLA opened at $406.58 on Friday. The stock’s 50 day simple moving average is $397.11 and its 200-day simple moving average is $292.97. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.31 trillion, a PE ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the company posted $0.53 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 2.01 EPS 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.