Tesla, Inc. (NASDAQ:TSLA) Holdings Raised by Highland Capital Management LLC

Highland Capital Management LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,517 shares of the electric vehicle producer’s stock after purchasing 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 reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TSLA. MidWestOne Financial Group Inc. raised its position in shares of Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after purchasing an additional 15 shares during the period. City State Bank raised its position in shares of Tesla by 3.3% during the third quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock worth $315,000 after purchasing an additional 40 shares during the period. Marcum Wealth LLC raised its position in shares of Tesla by 0.6% during the third quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock worth $1,850,000 after purchasing an additional 41 shares during the period. Linscomb & Williams Inc. raised its position in shares of Tesla by 3.5% during the first quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after purchasing an additional 42 shares during the period. Finally, Investors Research Corp raised its position in shares of Tesla by 5.5% during the second quarter. Investors Research Corp now owns 801 shares of the electric vehicle producer’s stock worth $210,000 after purchasing an additional 42 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

TSLA opened at $179.83 on Thursday. The business has a fifty day simple moving average of $188.49 and a 200 day simple moving average of $222.36. The company has a market capitalization of $572.72 billion, a PE ratio of 41.72, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 earnings per share. Research analysts expect that Tesla, Inc. will post 2.44 EPS for the current year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold 198,598 shares of company stock worth $36,952,434 in the last ninety days. 20.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TSLA. KGI Securities reaffirmed a “neutral” rating and set a $213.00 price target (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Monday. Barclays decreased their price objective on Tesla from $250.00 to $225.00 and set an “equal weight” rating for the company in a report on Thursday, January 25th. Piper Sandler decreased 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. Finally, China Renaissance started coverage on Tesla in a report on Monday, February 26th. They set a “hold” rating for the company. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $207.04.

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.