Tesla, Inc. (NASDAQ:TSLA) Stake Lifted by Highland Capital Management LLC

Highland Capital Management LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,517 shares of the electric vehicle producer’s stock after buying an additional 1,971 shares during the quarter. Highland Capital Management LLC’s holdings in Tesla were worth $6,092,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TSLA. Contravisory Investment Management Inc. bought a new position in shares of Tesla in the third quarter worth $25,000. Wyrmwood Management LLC bought a new position in shares of Tesla in the fourth quarter worth $25,000. Halpern Financial Inc. lifted its holdings in shares of Tesla by 1,111.1% in the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 100 shares during the period. Alpha Paradigm Partners LLC acquired a new stake in shares of Tesla in the third quarter valued at $27,000. Finally, MayTech Global Investments LLC acquired a new stake in shares of Tesla in the fourth quarter valued at $30,000. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on TSLA shares. Piper Sandler cut their price objective on Tesla from $295.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 5th. Barclays reduced their target price on Tesla from $250.00 to $225.00 and set an “equal weight” rating for the company in a report on Thursday, January 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $298.00 target price on shares of Tesla in a report on Wednesday. TD Cowen reduced their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Finally, KGI Securities reaffirmed a “neutral” rating and set a $213.00 target price (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $207.04.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,598 shares of company stock valued at $36,952,434. 20.90% of the stock is owned by insiders.

Tesla Stock Performance

TSLA stock opened at $179.83 on Thursday. The business’s 50-day moving average price is $188.49 and its two-hundred day moving average price is $222.36. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The firm has a market cap of $572.72 billion, a PE ratio of 41.72, a P/E/G ratio of 4.01 and a beta of 2.41. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.44 earnings per share for the current year.

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.