Tesla, Inc. (NASDAQ:TSLA) Holdings Raised by Elevation Wealth Partners LLC

Elevation Wealth Partners LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 37.7% during the 4th quarter, HoldingsChannel reports. The fund owned 8,530 shares of the electric vehicle producer’s stock after acquiring an additional 2,336 shares during the period. Tesla accounts for 1.5% of Elevation Wealth Partners LLC’s holdings, making the stock its 16th biggest position. Elevation Wealth Partners LLC’s holdings in Tesla were worth $3,445,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter worth about $29,000. Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after buying an additional 187 shares during the last quarter. Finley Financial LLC bought a new position in Tesla during the fourth quarter valued at approximately $64,000. Finally, Abich Financial Wealth Management LLC lifted its stake in Tesla by 136.4% in the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock valued at $80,000 after acquiring an additional 176 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. The trade was a 6.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the sale, the director now owns 85,000 shares in the company, valued at $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $355.94 on Friday. The firm has a market capitalization of $1.14 trillion, a PE ratio of 174.48, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a 50-day moving average price of $407.25 and a 200 day moving average price of $306.44.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Research analysts anticipate that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research note on Monday, January 6th. Stifel Nicolaus lowered their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday. Jefferies Financial Group boosted their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Evercore ISI increased their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Finally, Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $326.50.

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.