Morton Capital Management LLC CA Acquires 71 Shares of Tesla, Inc. (NASDAQ:TSLA)

Morton Capital Management LLC CA increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,249 shares of the electric vehicle producer’s stock after purchasing an additional 71 shares during the quarter. Morton Capital Management LLC CA’s holdings in Tesla were worth $908,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Salvus Wealth Management LLC acquired a new stake in Tesla during the 4th quarter worth $201,000. Certified Advisory Corp boosted its position in shares of Tesla by 0.6% in the 4th quarter. Certified Advisory Corp now owns 7,381 shares of the electric vehicle producer’s stock worth $2,981,000 after purchasing an additional 47 shares during the last quarter. Harbor Group Inc. acquired a new stake in shares of Tesla during the fourth quarter worth $222,000. Ullmann Wealth Partners Group LLC increased its holdings in Tesla by 11.6% in the fourth quarter. Ullmann Wealth Partners Group LLC now owns 2,746 shares of the electric vehicle producer’s stock valued at $1,109,000 after purchasing an additional 286 shares during the last quarter. Finally, Cypress Wealth Services LLC lifted its stake in Tesla by 3.9% in the fourth quarter. Cypress Wealth Services LLC now owns 11,292 shares of the electric vehicle producer’s stock valued at $4,560,000 after buying an additional 427 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, 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. Over the last ninety days, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

TSLA stock opened at $426.50 on Friday. The firm has a 50 day moving average of $387.84 and a 200-day moving average of $286.58. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TSLA. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Truist Financial restated a “hold” rating and issued a $360.00 price objective on shares of Tesla in a research report on Thursday, January 2nd. Finally, The Goldman Sachs Group boosted their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $299.33.

Tesla 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.