LongView Wealth Management Raises Position in Tesla, Inc. (NASDAQ:TSLA)

LongView Wealth Management increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,909 shares of the electric vehicle producer’s stock after acquiring an additional 218 shares during the period. LongView Wealth Management’s holdings in Tesla were worth $771,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Abich Financial Wealth Management LLC increased its holdings 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 acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter valued at $29,000. Clean Yield Group lifted its position in 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. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter worth approximately $35,000. Finally, M&R Capital Management Inc. boosted its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.1 %

Shares of TSLA opened at $426.50 on Monday. The business’s 50 day simple moving average is $389.94 and its 200-day simple moving average is $288.49. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

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

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on 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 of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock valued at $213,451,751 over the last three months. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Truist Financial reiterated a “hold” rating and issued a $360.00 price target on shares of Tesla in a report on Thursday, January 2nd. Barclays upped their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Finally, Cantor Fitzgerald raised their target price on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $299.33.

Tesla 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.