Laidlaw Wealth Management LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Laidlaw Wealth Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,250 shares of the electric vehicle producer’s stock after purchasing an additional 776 shares during the period. Tesla makes up 2.2% of Laidlaw Wealth Management LLC’s investment portfolio, making the stock its 8th largest holding. Laidlaw Wealth Management LLC’s holdings in Tesla were worth $4,947,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Swedbank AB lifted its stake in Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after acquiring an additional 29,669 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Tesla by 34.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after acquiring an additional 1,059 shares in the last quarter. BayBridge Capital Group LLC bought a new position in Tesla during the 3rd quarter valued at $209,000. Tarbox Family Office Inc. bought a new position in Tesla during the 3rd quarter valued at $284,000. Finally, Joel Isaacson & Co. LLC lifted its stake in Tesla by 4.0% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 3,893 shares of the electric vehicle producer’s stock valued at $1,019,000 after acquiring an additional 150 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the topic of several recent analyst reports. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Monday, February 10th. Glj Research reiterated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Wednesday, February 12th. Piper Sandler increased their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $319.57.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock valued at $195,995,200 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $337.80 on Friday. The firm’s 50 day simple moving average is $400.17 and its 200 day simple moving average is $313.18. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.09 trillion, a PE ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results 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 10.31% and a net margin of 7.26%. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.