Sandbox Financial Partners LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Sandbox Financial Partners LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 804.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,683 shares of the electric vehicle producer’s stock after purchasing an additional 5,944 shares during the period. Sandbox Financial Partners LLC’s holdings in Tesla were worth $1,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wealth Group Ltd. bought a new position in Tesla in the fourth quarter valued at $275,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Tesla during the 4th quarter valued at about $1,361,000. Tallon Kerry Patrick purchased a new position in shares of Tesla during the 4th quarter valued at about $374,000. Eagle Capital Management LLC bought a new stake in Tesla in the 4th quarter worth approximately $331,000. Finally, Brighton Jones LLC grew its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent research reports. Truist Financial set a $280.00 target price on shares of Tesla in a report on Tuesday, April 22nd. Cantor Fitzgerald dropped their target price on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Canaccord Genuity Group decreased their price target on Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Finally, Barclays decreased their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $293.97.

Read Our Latest Analysis on TSLA

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director now owns 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 870,721 shares of company stock worth $286,248,728 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $284.68 on Friday. The firm has a market capitalization of $916.94 billion, a PE ratio of 139.55, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a 50 day moving average price of $291.63 and a 200-day moving average price of $333.97. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the company earned $0.45 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Profile

(Free Report)

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.

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