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

Patrick M Sweeney & Associates Inc. acquired a new stake 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 institutional investor acquired 1,696 shares of the electric vehicle producer’s stock, valued at approximately $421,000.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a report on Wednesday, April 17th. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. UBS Group cut their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Finally, Canaccord Genuity Group cut their target price on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $185.90.

Insider Activity

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 302,803 shares of company stock worth $56,124,840. 20.90% of the stock is currently owned by insiders.

Tesla Price Performance

Tesla stock traded down $3.09 during midday trading on Wednesday, reaching $174.72. 79,782,476 shares of the stock were exchanged, compared to its average volume of 103,845,383. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The firm has a market cap of $557.22 billion, a PE ratio of 44.57, a PEG ratio of 4.74 and a beta of 2.41. The company’s fifty day moving average is $173.12 and its 200-day moving average is $204.32.

Tesla Company 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.