Steele Capital Management Inc. Invests $1.07 Million in Tesla, Inc. (NASDAQ:TSLA)

Steele Capital Management Inc. purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,285 shares of the electric vehicle producer’s stock, valued at approximately $1,065,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wyrmwood Management LLC acquired a new position in shares of Tesla during the 4th quarter valued at about $25,000. Lam Group Inc. purchased a new position in Tesla during the 4th quarter valued at about $25,000. Mendota Financial Group LLC grew its position in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. Kathleen S. Wright Associates Inc. increased its stake in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the period. Finally, Cordant Inc. acquired a new stake in shares of Tesla during the third quarter worth about $53,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Wells Fargo & Company reduced their price objective on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday, April 12th. Mizuho cut their price target on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a research note on Monday, April 22nd. Finally, HSBC cut their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $184.32.

Tesla Stock Performance

TSLA stock traded up $25.76 during trading on Monday, hitting $194.05. The company had a trading volume of 243,386,278 shares, compared to its average volume of 105,090,164. The firm has a 50-day moving average price of $175.04 and a 200-day moving average price of $207.22. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a market cap of $618.86 billion, a PE ratio of 48.47, a price-to-earnings-growth ratio of 4.45 and a beta of 2.40. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is currently owned by 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.