Flower City Capital Purchases 127 Shares of Tesla, Inc. (NASDAQ:TSLA)

Flower City Capital boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 961 shares of the electric vehicle producer’s stock after buying an additional 127 shares during the period. Tesla makes up 0.2% of Flower City Capital’s investment portfolio, making the stock its 23rd largest position. Flower City Capital’s holdings in Tesla were worth $388,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in Tesla in the third quarter valued at about $29,000. Clean Yield Group boosted its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the 3rd quarter valued at about $35,000. Finally, M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock worth $212,451,751 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on TSLA shares. Canaccord Genuity Group increased their price target on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Robert W. Baird lifted their target price on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Evercore ISI upped their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Wedbush raised their price objective on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group increased their target price on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $309.48.

Tesla Trading Down 2.1 %

TSLA stock opened at $415.11 on Thursday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 113.73, a price-to-earnings-growth ratio of 8.60 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $393.38 and its two-hundred day simple moving average is $291.27.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. As a group, analysts anticipate that Tesla, Inc. will post 2.01 earnings per share for the current year.

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.