Greenup Street Wealth Management LLC Buys 6,126 Shares of Tesla, Inc. (NASDAQ:TSLA)

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

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter worth approximately $29,000. Clean Yield Group lifted its holdings 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 in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Tesla during the third quarter worth $35,000. M&R Capital Management Inc. increased its holdings in Tesla by 263.2% in the 3rd 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 during the last quarter. Finally, Quarry LP purchased a new stake in Tesla in the 2nd quarter worth $48,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 553,386 shares of company stock worth $196,305,796. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $400.28 on Friday. The company has a 50 day moving average price of $401.98 and a 200-day moving average price of $297.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.28 trillion, a PE ratio of 109.67, a PEG ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Equities analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on TSLA. Deutsche Bank Aktiengesellschaft boosted their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company raised their target price on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday. Morgan Stanley upped their price target on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. HSBC reissued a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. Finally, Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and increased their price target for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $318.31.

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.