Quadrant Private Wealth Management LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Quadrant Private Wealth Management LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,640 shares of the electric vehicle producer’s stock after acquiring an additional 618 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Tesla were worth $2,681,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the third quarter worth about $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the fourth quarter worth about $46,000. PayPay Securities Corp raised its position in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter worth about $35,000. Finally, Finley Financial LLC acquired a new position in shares of Tesla in the fourth quarter worth about $64,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock worth $195,995,200 in the last ninety days. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, Truist Financial upped their price target on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $326.50.

Tesla Price Performance

Tesla stock opened at $354.11 on Wednesday. The firm has a market cap of $1.14 trillion, a PE ratio of 173.58, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $405.64 and its two-hundred day moving average is $309.75.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts expect that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

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.