Asset Planning Inc Invests $949,000 in Tesla, Inc. (NASDAQ:TSLA)

Asset Planning Inc purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,350 shares of the electric vehicle producer’s stock, valued at approximately $949,000. Tesla makes up 0.7% of Asset Planning Inc’s portfolio, making the stock its 29th biggest position.

Several other large investors also recently made changes to their positions in TSLA. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter valued at about $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla during the 4th quarter worth approximately $46,000. PayPay Securities Corp grew its position in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the 3rd quarter worth approximately $35,000. Finally, Finley Financial LLC acquired a new stake in shares of Tesla during the 4th quarter worth approximately $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $355.84 on Tuesday. The company’s 50 day moving average is $406.31 and its 200-day moving average is $308.78. 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 firm has a market cap of $1.14 trillion, a P/E ratio of 174.43, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts predict that Tesla, Inc. will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Truist Financial raised their target price on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Barclays lifted their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Canaccord Genuity Group lifted their target price on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Tesla in a research note on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $326.50.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were 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 owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 over the last quarter. Company insiders own 20.70% of the company’s stock.

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.