Quadcap Wealth Management LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Quadcap Wealth Management LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.1% during the fourth quarter, HoldingsChannel reports. The firm owned 15,891 shares of the electric vehicle producer’s stock after purchasing an additional 915 shares during the period. Tesla makes up approximately 0.9% of Quadcap Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Quadcap Wealth Management LLC’s holdings in Tesla were worth $6,417,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after buying an additional 1,655,203 shares during the last quarter. Norges Bank bought a new stake in shares of Tesla in the fourth quarter worth about $14,420,248,000. FMR LLC grew its stake in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on TSLA shares. Canaccord Genuity Group lowered their price objective on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Truist Financial set a $280.00 target price on shares of Tesla in a report on Tuesday, April 22nd. BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an “underperform” rating in a report on Wednesday, April 16th. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Finally, HSBC decreased their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $287.46.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $347.68 on Thursday. The firm has a market cap of $1.12 trillion, a PE ratio of 170.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The firm’s 50 day simple moving average is $262.55 and its 200-day simple moving average is $328.41. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. 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 earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the business earned $0.45 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the sale, the chief financial officer now owns 23,084 shares of the company’s stock, valued at $6,833,325.68. The trade was a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director now owns 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 412,623 shares of company stock worth $115,600,501. Company insiders own 20.70% of the company’s stock.

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.