Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Highline Wealth Partners LLC

Highline Wealth Partners LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,437 shares of the electric vehicle producer’s stock after purchasing an additional 1,300 shares during the period. Tesla makes up about 2.4% of Highline Wealth Partners LLC’s portfolio, making the stock its 13th biggest holding. Highline Wealth Partners LLC’s holdings in Tesla were worth $7,446,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC increased its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the third quarter worth $29,000. Clean Yield Group lifted its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the period. Finally, Peterson Financial Group Inc. acquired a new position in shares of Tesla in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on TSLA shares. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and boosted their price target for the company from $400.00 to $490.00 in a research note on Tuesday. Cantor Fitzgerald upped their target price on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. UBS Group raised their price objective on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday, November 25th. Finally, Piper Sandler lifted their price target on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $295.69.

Tesla Stock Performance

Shares of TSLA traded up $2.13 during midday trading on Friday, reaching $397.07. 44,745,766 shares of the stock were exchanged, compared to its average volume of 80,144,664. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.79, a PEG ratio of 10.80 and a beta of 2.30. The business’s 50-day moving average price is $373.68 and its 200 day moving average price is $279.12.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by insiders.

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.