Tesla, Inc. (NASDAQ:TSLA) Holdings Lifted by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,610 shares of the electric vehicle producer’s stock after acquiring an additional 459 shares during the period. Tesla comprises approximately 2.2% of HighPoint Advisor Group LLC’s portfolio, making the stock its 6th largest position. HighPoint Advisor Group LLC’s holdings in Tesla were worth $39,015,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TSLA. Norges Bank acquired a new stake in shares of Tesla in the 4th quarter valued at about $14,420,248,000. Strategic Financial Concepts LLC lifted its stake in Tesla by 36,790.0% in the fourth 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 buying an additional 8,637,195 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Tesla by 55,181.0% in the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after acquiring an additional 4,374,746 shares during the period. Assenagon Asset Management S.A. grew its position in shares of 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 acquiring an additional 3,624,910 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research reports. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Benchmark started coverage on Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective for the company. Truist Financial boosted their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday, February 10th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $318.34.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Down 3.5 %

TSLA stock opened at $263.55 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company’s 50 day simple moving average is $321.33 and its 200-day simple moving average is $323.01. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a market capitalization of $847.71 billion, a PE ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.