RDA Financial Network Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

RDA Financial Network acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 820 shares of the electric vehicle producer’s stock, valued at approximately $331,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Clean Energy Transition LLP boosted its holdings in shares of Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Tesla by 194.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after acquiring an additional 2,511,488 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TSLA shares. Canaccord Genuity Group lifted their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Stifel Nicolaus raised their price target on Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a report on Monday, January 6th. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Finally, Cantor Fitzgerald lifted their target price on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $299.33.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $426.50 on Friday. The stock has a market cap of $1.37 trillion, a PE ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a fifty day moving average price of $389.94 and a 200-day moving average price of $288.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Equities analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 in the last three months. 20.70% of the stock is owned by company insiders.

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.