HB Wealth Management LLC Acquires 2,426 Shares of Tesla, Inc. (NASDAQ:TSLA)

HB Wealth Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 425,644 shares of the electric vehicle producer’s stock after acquiring an additional 2,426 shares during the quarter. Tesla accounts for approximately 1.8% of HB Wealth Management LLC’s portfolio, making the stock its 11th largest position. HB Wealth Management LLC’s holdings in Tesla were worth $171,947,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Abich Financial Wealth Management LLC grew its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new stake in Tesla in the 3rd quarter valued at $29,000. Clean Yield Group increased its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Tesla during the third quarter worth $35,000. Finally, M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by insiders.

Tesla Trading Up 3.1 %

Shares of Tesla stock opened at $426.50 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a market cap of $1.37 trillion, a PE ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30. The company has a 50 day simple moving average of $389.94 and a two-hundred day simple moving average of $288.49.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $25.47 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. The Goldman Sachs Group boosted their target price on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Canaccord Genuity Group boosted their price objective on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Jefferies Financial Group raised their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Tesla in a report on Monday, November 18th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $299.33.

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.