Patrick M Sweeney & Associates Inc. Acquires Shares of 1,696 Tesla, Inc. (NASDAQ:TSLA)

Patrick M Sweeney & Associates Inc. bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,696 shares of the electric vehicle producer’s stock, valued at approximately $421,000.

Other large investors have also added to or reduced their stakes in the company. Brown Advisory Inc. raised its stake in shares of Tesla by 6.6% during the 3rd quarter. Brown Advisory Inc. now owns 25,999 shares of the electric vehicle producer’s stock worth $6,505,000 after purchasing an additional 1,604 shares during the period. WealthShield Partners LLC boosted its holdings in Tesla by 8.9% in the 3rd quarter. WealthShield Partners LLC now owns 2,389 shares of the electric vehicle producer’s stock worth $598,000 after buying an additional 196 shares during the period. Mackenzie Financial Corp grew its stake in Tesla by 11.9% in the 3rd quarter. Mackenzie Financial Corp now owns 267,828 shares of the electric vehicle producer’s stock valued at $66,028,000 after buying an additional 28,449 shares in the last quarter. Farmers & Merchants Investments Inc. raised its holdings in Tesla by 32.6% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 3,663 shares of the electric vehicle producer’s stock valued at $917,000 after acquiring an additional 901 shares during the period. Finally, Pennsylvania Capital Management Inc. ADV boosted its holdings in shares of Tesla by 1.6% in the third quarter. Pennsylvania Capital Management Inc. ADV now owns 4,805 shares of the electric vehicle producer’s stock worth $1,202,000 after acquiring an additional 77 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 302,803 shares of company stock worth $56,124,840 in the last 90 days. Company insiders own 20.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSLA. Redburn Atlantic initiated coverage on shares of Tesla in a report on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price on the stock. The Goldman Sachs Group lowered their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, April 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Wednesday, April 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $185.90.

Tesla Trading Down 1.7 %

Shares of NASDAQ:TSLA traded down $3.09 during midday trading on Wednesday, hitting $174.72. 79,782,476 shares of the stock traded hands, compared to its average volume of 103,845,383. 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 business’s 50 day moving average is $173.12 and its two-hundred day moving average is $204.32. The stock has a market capitalization of $557.22 billion, a PE ratio of 44.57, a P/E/G ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29.

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.