Pointe Capital Management LLC Purchases New Stake in Tesla, Inc. (NASDAQ:TSLA)

Pointe Capital Management LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 617 shares of the electric vehicle producer’s stock, valued at approximately $249,000.

Other large investors have also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in Tesla in the third quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new position in Tesla in the third quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter valued at about $46,000. PayPay Securities Corp grew its stake in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares in the last quarter. Finally, Finley Financial LLC purchased a new position in Tesla in the fourth quarter valued at about $64,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research note on Monday, February 10th. Royal Bank of Canada reiterated a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Wedbush set a $302.80 price target on Tesla in a research note on Wednesday. Finally, Barclays upped their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Ten equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $318.77.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 523,386 shares of company stock valued at $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Up 4.0 %

Tesla stock opened at $293.33 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $385.35 and a two-hundred day moving average price of $315.95. The stock has a market cap of $943.49 billion, a price-to-earnings ratio of 143.79, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 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.