Tesla, Inc. (NASDAQ:TSLA) Shares Bought by HighMark Wealth Management LLC

HighMark Wealth Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 139.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,595 shares of the electric vehicle producer’s stock after purchasing an additional 1,513 shares during the period. Tesla comprises 0.4% of HighMark Wealth Management LLC’s portfolio, making the stock its 27th largest position. HighMark Wealth Management LLC’s holdings in Tesla were worth $671,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Tesla in the 4th quarter valued at about $14,420,248,000. FMR LLC boosted its holdings in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC grew its stake in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $325.78 on Friday. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 179.00, a PEG ratio of 12.25 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The stock’s 50 day moving average price is $313.28 and its 200 day moving average price is $331.01.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the prior year, the firm posted $0.45 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Roth Mkm decreased their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Benchmark reissued a “buy” rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday. Barclays cut their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Bank of America decreased their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $298.37.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director now owns 855,394 shares of the company’s stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is owned by corporate insiders.

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.