Financial Symmetry Inc Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Financial Symmetry Inc acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, Holdings Channel.com reports. The firm acquired 2,007 shares of the electric vehicle producer’s stock, valued at approximately $499,000. Tesla makes up about 0.5% of Financial Symmetry Inc’s investment portfolio, making the stock its 20th largest position.

A number of other large investors have also made changes to their positions in TSLA. Axiom Financial Strategies LLC grew its stake in shares of Tesla by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after purchasing an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after acquiring an additional 164,789 shares during the period. MAS Advisors LLC raised its holdings in shares of Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after acquiring an additional 81 shares during the period. Ergoteles LLC grew its position in Tesla by 33.4% in the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after purchasing an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Tesla by 6.8% in the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after purchasing an additional 4,593 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA traded down $0.63 during trading hours on Friday, reaching $149.30. 44,320,698 shares of the company were exchanged, compared to its average volume of 101,057,398. Tesla, Inc. has a 1 year low of $148.10 and a 1 year high of $299.29. The business’s 50 day simple moving average is $179.45 and its 200-day simple moving average is $212.21. 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 stock has a market capitalization of $475.49 billion, a P/E ratio of 34.82, a P/E/G ratio of 4.11 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) 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 company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter last year, the business posted $1.07 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TSLA. Wells Fargo & Company decreased their price objective on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. TD Cowen cut their price objective on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. UBS Group cut their price target on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. Jefferies Financial Group lowered their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Finally, Mizuho restated a “neutral” rating and issued a $195.00 price target (down from $270.00) on shares of Tesla in a research report on Monday, March 25th. Ten equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $194.70.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’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 completion of 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 Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 over the last quarter. Corporate insiders own 25.10% 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.