Littlejohn Financial Services Inc. Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Littlejohn Financial Services Inc. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 613 shares of the electric vehicle producer’s stock, valued at approximately $248,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC purchased a new position in Tesla during the 3rd quarter worth $29,000. Peterson Financial Group Inc. acquired a new stake in Tesla in the 3rd quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Tesla in the 4th quarter valued at about $46,000. PayPay Securities Corp grew its stake in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $355.84 on Tuesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The business has a 50-day simple moving average of $406.31 and a two-hundred day simple moving average of $308.78. 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 stock has a market cap of $1.14 trillion, a PE ratio of 174.43, a PEG ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Analysts anticipate that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on TSLA shares. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and raised their price target for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. The Goldman Sachs Group raised their price target on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $326.50.

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.