Falcon Wealth Planning Has $1.28 Million Position in Tesla, Inc. (NASDAQ:TSLA)
Posted On March 25, 2022
Falcon Wealth Planning boosted its holdings in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 56.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,208 shares of the electric vehicle producer’s stock after buying an additional 435 shares during the period. Tesla makes up about 0.4% of Falcon Wealth Planning’s investment portfolio, making the stock its 28th biggest position. Falcon Wealth Planning’s holdings in Tesla were worth $1,277,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. bought a new stake in Tesla in the third quarter valued at approximately $27,000. Norway Savings Bank increased its stake in Tesla by 40.0% in the fourth quarter. Norway Savings Bank now owns 35 shares of the electric vehicle producer’s stock valued at $37,000 after purchasing an additional 10 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Tesla in the third quarter valued at approximately $41,000. Cranbrook Wealth Management LLC increased its stake in Tesla by 266.7% in the third quarter. Cranbrook Wealth Management LLC now owns 55 shares of the electric vehicle producer’s stock valued at $43,000 after purchasing an additional 40 shares in the last quarter. Finally, Twin Lakes Capital Management LLC bought a new stake in Tesla in the third quarter valued at approximately $57,000. Institutional investors and hedge funds own 40.64% of the company’s stock.
In other news, Director Robyn M. Denholm sold 25,000 shares of the stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $923.57, for a total value of $23,089,250.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $815.72, for a total transaction of $2,855,020.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,576 shares of company stock worth $74,305,104. Insiders own 25.00% of the company’s stock.
Several brokerages have recently issued reports on TSLA. Canaccord Genuity Group increased their price objective on shares of Tesla from $1,040.00 to $1,200.00 in a research report on Friday, January 28th. Bank of America reissued a “hold” rating and set a $1,200.00 price objective on shares of Tesla in a research report on Tuesday, January 4th. Barclays set a $325.00 price objective on shares of Tesla in a research report on Thursday, January 27th. Credit Suisse Group raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $1,025.00 price objective for the company in a research report on Monday, January 31st. Finally, Royal Bank of Canada set a $950.00 target price on shares of Tesla in a research report on Tuesday, January 4th. Eight research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $935.68.
Shares of NASDAQ TSLA traded up $14.81 during trading on Thursday, hitting $1,013.92. The stock had a trading volume of 22,914,210 shares, compared to its average volume of 27,435,721. Tesla, Inc. has a 12 month low of $546.98 and a 12 month high of $1,243.49. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 1.08. The company has a market capitalization of $1.02 trillion, a PE ratio of 206.92, a PEG ratio of 3.07 and a beta of 2.04. The firm has a fifty day moving average of $890.64 and a two-hundred day moving average of $941.54.
Tesla (NASDAQ:TSLA – Get Rating) last posted its earnings results on Wednesday, January 26th. The electric vehicle producer reported $2.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.37. The firm had revenue of $17.72 billion during the quarter, compared to analyst estimates of $16.65 billion. Tesla had a net margin of 10.25% and a return on equity of 20.36%. The business’s revenue was up 65.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. On average, equities analysts expect that Tesla, Inc. will post 7.6 earnings per share for the current fiscal year.
About Tesla (Get Rating)
Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. It also provides vehicle service centers, Supercharger stations, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.
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