Greenup Street Wealth Management LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Greenup Street Wealth Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 32.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,165 shares of the electric vehicle producer’s stock after acquiring an additional 6,126 shares during the period. Tesla makes up about 2.0% of Greenup Street Wealth Management LLC’s portfolio, making the stock its 11th biggest position. Greenup Street Wealth Management LLC’s holdings in Tesla were worth $10,162,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Transcendent Capital Group LLC purchased a new stake in Tesla in the third quarter valued at $29,000. Clean Yield Group boosted its stake in shares of Tesla by 60.0% in 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 last quarter. Peterson Financial Group Inc. acquired a new stake in Tesla during the third quarter worth about $35,000. M&R Capital Management Inc. raised its position in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Finally, Quarry LP acquired a new position in Tesla in the second quarter valued at approximately $48,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSLA. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Truist Financial upped their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday. Evercore ISI raised their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Finally, Canaccord Genuity Group upped their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $318.31.

Tesla Price Performance

Shares of TSLA opened at $400.28 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year 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 firm has a 50-day simple moving average of $401.98 and a two-hundred day simple moving average of $297.28. The stock has a market cap of $1.28 trillion, a PE ratio of 109.67, a P/E/G ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. As a group, analysts forecast that Tesla, Inc. will post 2.01 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 553,386 shares of company stock worth $196,305,796 in the last quarter. 20.70% of the stock is owned by company insiders.

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.