Tesla, Inc. (NASDAQ:TSLA) is Wealth Management Partners LLC’s 9th Largest Position

Wealth Management Partners LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,669 shares of the electric vehicle producer’s stock after acquiring an additional 2,123 shares during the quarter. Tesla comprises 2.9% of Wealth Management Partners LLC’s investment portfolio, making the stock its 9th largest position. Wealth Management Partners LLC’s holdings in Tesla were worth $6,732,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. World Investment Advisors LLC grew its stake in Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management lifted its stake in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd increased its position in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after buying an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after buying an additional 1,741 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of TSLA stock opened at $424.07 on Wednesday. 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 company has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 116.18, a price-to-earnings-growth ratio of 8.60 and a beta of 2.30. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company’s 50-day moving average is $391.47 and its 200 day moving average is $290.05.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Guggenheim boosted their price target on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and increased their target price for the company from $230.00 to $515.00 in a report on Tuesday, December 17th. Finally, Piper Sandler lifted their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $304.94.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction 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 owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 over the last quarter. 20.70% of the stock is currently owned by insiders.

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.