Capital Investment Counsel Inc Purchases 40 Shares of Tesla, Inc. (NASDAQ:TSLA)

Capital Investment Counsel Inc boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,410 shares of the electric vehicle producer’s stock after purchasing an additional 40 shares during the period. Capital Investment Counsel Inc’s holdings in Tesla were worth $1,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the fourth quarter worth $46,000. PayPay Securities Corp grew its holdings in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter valued at $35,000. Finally, Finley Financial LLC bought a new position in shares of Tesla in the fourth quarter valued at about $64,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock worth $195,995,200 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 4.7 %

Shares of TSLA stock opened at $337.80 on Monday. The company has a market capitalization of $1.09 trillion, a PE ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The firm has a 50 day moving average price of $400.17 and a two-hundred day moving average price of $314.04. 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 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Jefferies Financial Group increased their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Truist Financial boosted their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. UBS Group increased their price objective on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Finally, Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Ten research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $319.57.

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.