Horizon Investments LLC Purchases 12,710 Shares of Tesla, Inc. (NASDAQ:TSLA)

Horizon Investments LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 65,409 shares of the electric vehicle producer’s stock after purchasing an additional 12,710 shares during the period. Tesla accounts for about 0.8% of Horizon Investments LLC’s portfolio, making the stock its 18th largest position. Horizon Investments LLC’s holdings in Tesla were worth $26,415,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TSLA. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter valued at about $46,000. Parkworth Wealth Management Inc. purchased a new position in shares of Tesla in the 4th quarter worth approximately $47,000. PayPay Securities Corp raised its stake in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in Tesla in the fourth quarter valued at approximately $55,000. Finally, Finley Financial LLC purchased a new position in Tesla in the fourth quarter worth $64,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TSLA. Morgan Stanley reissued a “top pick” rating and issued a $430.00 price objective on shares of Tesla in a research report on Monday, March 3rd. Glj Research restated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Barclays boosted their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Finally, Mizuho dropped their price objective on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday. Nine analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $323.00.

Tesla Stock Performance

NASDAQ TSLA opened at $238.01 on Tuesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market capitalization of $765.56 billion, a P/E ratio of 116.67, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The stock’s fifty day moving average is $347.85 and its two-hundred day moving average is $320.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 over the last quarter. 20.70% of the stock is 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.