Safeguard Financial LLC Has $2.39 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Safeguard Financial LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 429.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,617 shares of the electric vehicle producer’s stock after buying an additional 7,802 shares during the quarter. Tesla comprises approximately 0.9% of Safeguard Financial LLC’s portfolio, making the stock its 14th largest holding. Safeguard Financial LLC’s holdings in Tesla were worth $2,390,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Tyche Wealth Partners LLC acquired a new stake in shares of Tesla during the fourth quarter worth approximately $5,413,000. Allen Capital Group LLC raised its position in Tesla by 3.7% during the fourth quarter. Allen Capital Group LLC now owns 2,230 shares of the electric vehicle producer’s stock valued at $554,000 after acquiring an additional 80 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tesla by 2.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,352,841 shares of the electric vehicle producer’s stock valued at $336,154,000 after acquiring an additional 31,154 shares in the last quarter. Everence Capital Management Inc. raised its position in Tesla by 14.9% during the fourth quarter. Everence Capital Management Inc. now owns 69,260 shares of the electric vehicle producer’s stock valued at $17,210,000 after acquiring an additional 8,980 shares in the last quarter. Finally, Main Street Research LLC raised its position in Tesla by 10.9% during the fourth quarter. Main Street Research LLC now owns 14,198 shares of the electric vehicle producer’s stock valued at $3,528,000 after acquiring an additional 1,394 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Tesla from $200.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. KGI Securities reissued a “neutral” rating and issued a $213.00 price target (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Wedbush dropped their price target on shares of Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 28th. Finally, TD Cowen dropped their price target on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research report on Thursday, January 25th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $198.81.

Tesla Stock Performance

TSLA traded down $4.37 during trading on Tuesday, reaching $157.11. 96,854,894 shares of the company’s stock were exchanged, compared to its average volume of 102,190,344. Tesla, Inc. has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $181.44 and a 200 day moving average price of $213.70. The company has a market capitalization of $500.36 billion, a P/E ratio of 36.36, a PEG ratio of 4.50 and a beta of 2.40.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts predict that Tesla, Inc. will post 1.98 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 20.90% of the company’s stock.

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.