Spartan Planning & Wealth Management Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Spartan Planning & Wealth Management raised its position in Tesla, Inc. (NASDAQ:TSLA) by 46.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,439 shares of the electric vehicle producer’s stock after buying an additional 1,399 shares during the period. Tesla comprises 1.2% of Spartan Planning & Wealth Management’s investment portfolio, making the stock its 19th biggest position. Spartan Planning & Wealth Management’s holdings in Tesla were worth $1,103,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Holderness Investments Co. boosted its position in Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after acquiring an additional 42 shares during the last quarter. SCS Capital Management LLC raised its stake in Tesla by 0.3% during the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after purchasing an additional 45 shares during the period. Daymark Wealth Partners LLC raised its stake in Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after purchasing an additional 45 shares during the period. Cravens & Co Advisors LLC raised its stake in Tesla by 1.2% during the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after purchasing an additional 48 shares during the period. Finally, Patten & Patten Inc. TN raised its stake in shares of Tesla by 1.1% in the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after acquiring an additional 48 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 5.3 %

Shares of NASDAQ:TSLA opened at $187.44 on Tuesday. The stock has a market cap of $597.78 billion, a P/E ratio of 47.82, a P/E/G ratio of 4.41 and a beta of 2.32. The firm has a fifty day moving average price of $173.19 and a 200 day moving average price of $194.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Sell-side analysts predict that Tesla, Inc. will post 1.87 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Jefferies Financial Group reduced their price target on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. UBS Group reduced their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Roth Mkm reissued a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday, April 24th. Finally, HSBC reduced their price target on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $185.90.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,855 shares of company stock worth $19,285,643. 20.90% of the stock is owned by insiders.

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.