Variant Private Wealth LLC Acquires New Shares in Tesla, Inc. (NASDAQ:TSLA)

Variant Private Wealth LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, Holdings Channel reports. The firm purchased 6,683 shares of the electric vehicle producer’s stock, valued at approximately $2,699,000. Tesla accounts for about 2.6% of Variant Private Wealth LLC’s portfolio, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Swedbank AB boosted its holdings in Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Tesla by 34.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after acquiring an additional 1,059 shares during the period. GHP Investment Advisors Inc. increased its stake in shares of Tesla by 28.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 990 shares of the electric vehicle producer’s stock worth $259,000 after purchasing an additional 217 shares in the last quarter. Ellis Investment Partners LLC bought a new position in shares of Tesla in the third quarter worth about $222,000. Finally, First Financial Bankshares Inc lifted its holdings in Tesla by 2.8% during the third quarter. First Financial Bankshares Inc now owns 8,305 shares of the electric vehicle producer’s stock valued at $2,173,000 after purchasing an additional 226 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSLA. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a report on Tuesday, February 18th. Jefferies Financial Group boosted their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Guggenheim reiterated a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. Glj Research reissued a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Ten research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $319.57.

Tesla Trading Down 2.2 %

TSLA stock opened at $330.53 on Tuesday. The company has a market capitalization of $1.06 trillion, a PE ratio of 162.03, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm’s 50-day moving average is $397.52 and its 200 day moving average is $314.96.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.