LMG Wealth Partners LLC Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

LMG Wealth Partners LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,875 shares of the electric vehicle producer’s stock, valued at approximately $3,988,000.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC raised its holdings in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Assenagon Asset Management S.A. increased its position in Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after buying an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the period. Wellington Management Group LLP lifted its position in shares of Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after buying an additional 2,511,488 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after acquiring an additional 1,294,093 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction 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 directly owns 85,000 shares of the company’s stock, valued at $30,095,100. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 over the last ninety days. 20.70% of the stock is owned by company insiders.

Tesla Trading Down 4.7 %

TSLA opened at $337.80 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a fifty day moving average of $400.17 and a 200-day moving average of $313.18. The stock has a market cap of $1.09 trillion, a PE ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. 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) 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 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, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TSLA. Guggenheim restated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, January 29th. Benchmark started coverage on shares of Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective on the stock. Evercore ISI lifted their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Finally, Piper Sandler boosted their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $319.57.

Tesla Company 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.