Waterfront Wealth Inc. Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Waterfront Wealth Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,578 shares of the electric vehicle producer’s stock after buying an additional 49 shares during the period. Waterfront Wealth Inc.’s holdings in Tesla were worth $1,849,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TSLA. Swedbank AB grew its stake in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Tesla by 34.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock worth $1,087,000 after purchasing an additional 1,059 shares during the last quarter. Osborne Partners Capital Management LLC bought a new stake in shares of Tesla in the third quarter worth about $229,000. NorthCrest Asset Manangement LLC boosted its position in Tesla by 6.5% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 8,765 shares of the electric vehicle producer’s stock valued at $2,293,000 after acquiring an additional 536 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in Tesla by 28.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 990 shares of the electric vehicle producer’s stock valued at $259,000 after acquiring an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TSLA. Barclays lifted their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research report on Tuesday, February 18th. Wells Fargo & Company lifted their price objective on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Finally, Robert W. Baird cut their price objective on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $319.57.

Tesla Price Performance

Shares of TSLA opened at $337.80 on Monday. The firm has a market cap of $1.09 trillion, a PE ratio of 165.59, a P/E/G ratio of 5.86 and a beta of 2.34. 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 fifty day simple moving average of $400.17 and a two-hundred day simple moving average of $314.04. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced 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 net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,903,716. The trade was a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 523,386 shares of company stock worth $195,995,200. Insiders own 20.70% of the company’s stock.

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.