Howard Capital Management Inc. Has $32.52 Million Stock Holdings in Tesla, Inc. $TSLA

Howard Capital Management Inc. boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.7% in the second quarter, Holdings Channel reports. The firm owned 102,359 shares of the electric vehicle producer’s stock after purchasing an additional 24,619 shares during the quarter. Tesla comprises about 0.4% of Howard Capital Management Inc.’s portfolio, making the stock its 26th biggest holding. Howard Capital Management Inc.’s holdings in Tesla were worth $32,515,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Bison Wealth LLC increased its position in shares of Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after purchasing an additional 3,558 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Tesla by 6.4% during the 1st quarter. Golden State Wealth Management LLC now owns 17,619 shares of the electric vehicle producer’s stock valued at $4,566,000 after purchasing an additional 1,053 shares during the last quarter. Finally, Colonial River Investments LLC boosted its position in Tesla by 60.3% in the first quarter. Colonial River Investments LLC now owns 9,824 shares of the electric vehicle producer’s stock valued at $2,546,000 after buying an additional 3,695 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last ninety days. Insiders own 19.90% of the company’s stock.

Tesla Trading Up 4.3%

TSLA stock opened at $452.42 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a market cap of $1.50 trillion, a P/E ratio of 301.61, a PEG ratio of 15.45 and a beta of 2.08. The business has a fifty day moving average of $400.41 and a 200-day moving average of $342.47.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSLA. Bank of America raised their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Evercore ISI dropped their price target on Tesla from $300.00 to $235.00 in a report on Friday. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. JPMorgan Chase & Co. increased their target price on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Finally, Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $381.00.

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.