Mattern Wealth Management LLC Invests $306,000 in Tesla, Inc. (NASDAQ:TSLA)

Mattern Wealth Management LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 757 shares of the electric vehicle producer’s stock, valued at approximately $306,000.

Several other institutional investors have also bought and sold shares of TSLA. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter valued at $29,000. Clean Yield Group grew its position in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. bought a new position in Tesla during the third quarter worth $35,000. M&R Capital Management Inc. lifted its stake in Tesla by 263.2% during the third 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. Finally, Finley Financial LLC bought a new position in Tesla during the 4th quarter valued at about $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $300.37, for a total value of $2,402,960.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $31,548,461.84. The trade was a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 553,386 shares of company stock valued at $196,305,796 in the last ninety days. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Robert W. Baird reduced their price target on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday. Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Friday, January 3rd. Truist Financial upped their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday. Finally, New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a report on Monday, January 6th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $318.31.

Tesla Stock Up 2.9 %

TSLA stock opened at $400.28 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market cap of $1.28 trillion, a P/E ratio of 109.67, a PEG ratio of 8.42 and a beta of 2.30. The company’s 50 day moving average is $401.98 and its two-hundred day moving average is $297.28.

Tesla (NASDAQ:TSLA) last released its quarterly 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 10.24% and a net margin of 13.07%. Research analysts expect that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Tesla Company 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.