Solidarity Wealth LLC Acquires 173 Shares of Tesla, Inc. (NASDAQ:TSLA)

Solidarity Wealth LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 14.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,343 shares of the electric vehicle producer’s stock after purchasing an additional 173 shares during the quarter. Solidarity Wealth LLC’s holdings in Tesla were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. ARS Investment Partners LLC lifted its position in Tesla by 118.2% during the fourth quarter. ARS Investment Partners LLC now owns 4,394 shares of the electric vehicle producer’s stock valued at $1,774,000 after purchasing an additional 2,380 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Tesla by 9.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 138,880 shares of the electric vehicle producer’s stock valued at $56,085,000 after acquiring an additional 11,866 shares during the period. Chesapeake Wealth Management raised its stake in shares of Tesla by 8.0% in the fourth quarter. Chesapeake Wealth Management now owns 2,866 shares of the electric vehicle producer’s stock valued at $1,157,000 after acquiring an additional 212 shares during the period. Reliant Investment Management LLC purchased a new stake in shares of Tesla in the fourth quarter valued at $254,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Tesla in the fourth quarter valued at $110,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $412.38 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a 50 day simple moving average of $395.08 and a two-hundred day simple moving average of $292.13. The stock has a market cap of $1.32 trillion, a price-to-earnings ratio of 112.98, a PEG ratio of 8.55 and a beta of 2.30.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data 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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the business posted $0.53 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and increased their target price for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Guggenheim raised their price target on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. Finally, Barclays raised their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $309.48.

Read Our Latest Report on Tesla

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 617,886 shares of company stock worth $212,451,751. Company insiders own 20.70% of the company’s stock.

Tesla Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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