Tesla, Inc. (NASDAQ:TSLA) is Lauer Wealth LLC’s Largest Position

Lauer Wealth LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,931 shares of the electric vehicle producer’s stock after selling 1,826 shares during the quarter. Tesla comprises approximately 14.8% of Lauer Wealth LLC’s investment portfolio, making the stock its biggest holding. Lauer Wealth LLC’s holdings in Tesla were worth $22,433,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TSLA. StoneCrest Wealth Management Inc. purchased a new stake in Tesla in the fourth quarter valued at approximately $218,000. Kraematon Investment Advisors Inc. acquired a new stake in Tesla during the 4th quarter valued at approximately $219,000. Empirical Asset Management LLC boosted its holdings in shares of Tesla by 1,739.1% in the 4th quarter. Empirical Asset Management LLC now owns 58,282 shares of the electric vehicle producer’s stock valued at $23,537,000 after acquiring an additional 55,113 shares during the last quarter. Cvfg LLC acquired a new stake in shares of Tesla in the fourth quarter worth $899,000. Finally, Morton Capital Management LLC CA raised its holdings in shares of Tesla by 3.3% during the fourth quarter. Morton Capital Management LLC CA now owns 2,249 shares of the electric vehicle producer’s stock worth $908,000 after purchasing an additional 71 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of TSLA stock opened at $426.50 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $1.37 trillion, a PE ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. The firm’s 50-day moving average is $389.94 and its two-hundred day moving average is $288.09. 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 results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. Analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity

In other news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock valued at $213,451,751 in the last quarter. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TSLA shares. Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $230.00 to $515.00 in a research report on Tuesday, December 17th. Canaccord Genuity Group lifted their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Cantor Fitzgerald raised their price objective on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Truist Financial reiterated a “hold” rating and issued a $360.00 target price on shares of Tesla in a research note on Thursday, January 2nd. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $299.33.

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.