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

LongView Wealth Management boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,909 shares of the electric vehicle producer’s stock after purchasing an additional 218 shares during the period. LongView Wealth Management’s holdings in Tesla were worth $771,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TSLA. Acropolis Investment Management LLC raised its position in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after acquiring an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD increased its holdings in shares of Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares in the last quarter. Connable Office Inc. lifted its stake in shares of Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares during the period. Community Bank N.A. boosted its holdings in Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after buying an additional 38 shares in the last quarter. Finally, Holistic Financial Partners grew its position in Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 621,886 shares of company stock worth $213,451,751. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wedbush restated an “outperform” rating and set a $400.00 target price on shares of Tesla in a research report on Monday, November 18th. JPMorgan Chase & Co. boosted their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. HSBC reiterated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Piper Sandler upped their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Cantor Fitzgerald lifted their target price on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $299.33.

Tesla Price Performance

TSLA stock opened at $426.50 on Monday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a P/E/G 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. The business’s 50-day moving average is $389.94 and its two-hundred day moving average is $288.49.

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

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.