Howe & Rusling Inc. Purchases 61 Shares of Tesla, Inc. (NASDAQ:TSLA)

Howe & Rusling Inc. lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 863 shares of the electric vehicle producer’s stock after purchasing an additional 61 shares during the quarter. Howe & Rusling Inc.’s holdings in Tesla were worth $349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSLA. AssuredPartners Investment Advisors LLC bought a new position in Tesla in the 4th quarter worth about $9,607,000. NEOS Investment Management LLC grew its holdings in shares of Tesla by 12.7% during the fourth quarter. NEOS Investment Management LLC now owns 246,926 shares of the electric vehicle producer’s stock worth $99,719,000 after purchasing an additional 27,780 shares in the last quarter. BIT Capital GmbH increased its position in shares of Tesla by 113.7% in the fourth quarter. BIT Capital GmbH now owns 451 shares of the electric vehicle producer’s stock worth $182,000 after purchasing an additional 240 shares during the last quarter. Moment Partners LLC purchased a new stake in Tesla in the fourth quarter valued at approximately $273,000. Finally, Sava Infond d.o.o. purchased a new position in Tesla in the 4th quarter worth approximately $682,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Truist Financial raised their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. UBS Group cut their price objective on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a report on Monday, March 10th. Royal Bank of Canada decreased their price objective on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Finally, New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $319.12.

Tesla Trading Up 0.4 %

Tesla stock opened at $273.13 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The business’s fifty day moving average is $324.59 and its 200 day moving average is $321.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $878.53 billion, a PE ratio of 133.89, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred 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 directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,228 shares of company stock worth $166,849,043. Insiders own 20.70% of the company’s stock.

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.