Quantum Private Wealth LLC Acquires 300 Shares of Tesla, Inc. (NASDAQ:TSLA)

Quantum Private Wealth LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 22.0% in the 4th quarter, HoldingsChannel reports. The firm owned 1,665 shares of the electric vehicle producer’s stock after purchasing an additional 300 shares during the quarter. Quantum Private Wealth LLC’s holdings in Tesla were worth $672,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Little House Capital LLC purchased a new stake in shares of Tesla during the 4th quarter worth approximately $283,000. Centerpoint Advisory Group purchased a new stake in shares of Tesla during the 4th quarter worth approximately $385,000. bLong Financial LLC purchased a new stake in shares of Tesla during the 4th quarter worth approximately $1,472,000. Everhart Financial Group Inc. raised its holdings in shares of Tesla by 11.2% during the 4th quarter. Everhart Financial Group Inc. now owns 15,796 shares of the electric vehicle producer’s stock worth $6,379,000 after acquiring an additional 1,588 shares in the last quarter. Finally, Next Level Wealth Planning LLC purchased a new stake in shares of Tesla during the 4th quarter worth approximately $437,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $440.00 price objective on shares of Tesla in a report on Thursday, January 30th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Piper Sandler upped their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Benchmark initiated coverage on Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target on the stock. Finally, Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Wednesday, February 12th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $326.50.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This represents a 94.88 % 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 quarter. 20.70% of the stock is owned by company insiders.

Tesla Stock Up 1.8 %

Shares of TSLA opened at $360.56 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average is $403.41 and its two-hundred day moving average is $311.13. The firm has a market cap of $1.16 trillion, a P/E ratio of 176.75, a PEG ratio of 5.89 and a beta of 2.34. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.