Howard Capital Management Inc. Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Howard Capital Management Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,674 shares of the electric vehicle producer’s stock after buying an additional 2,795 shares during the period. Tesla accounts for 0.4% of Howard Capital Management Inc.’s portfolio, making the stock its 26th biggest position. Howard Capital Management Inc.’s holdings in Tesla were worth $35,406,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TSLA. Swedbank AB increased its stake in shares of Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the period. Orrstown Financial Services Inc. increased its stake in shares of Tesla by 67.0% during the third quarter. Orrstown Financial Services Inc. now owns 3,490 shares of the electric vehicle producer’s stock valued at $913,000 after buying an additional 1,400 shares during the period. Pallas Capital Advisors LLC boosted its position in shares of Tesla by 37.7% during the third quarter. Pallas Capital Advisors LLC now owns 3,457 shares of the electric vehicle producer’s stock valued at $900,000 after purchasing an additional 947 shares in the last quarter. Worth Financial Advisory Group LLC bought a new stake in shares of Tesla during the third quarter valued at approximately $267,000. Finally, Smith Group Asset Management LLC boosted its position in shares of Tesla by 103.3% during the third quarter. Smith Group Asset Management LLC now owns 3,306 shares of the electric vehicle producer’s stock valued at $865,000 after purchasing an additional 1,680 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 8.4 %

Tesla stock opened at $302.80 on Wednesday. The stock has a market cap of $973.96 billion, a PE ratio of 148.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a fifty day moving average of $393.98 and a 200 day moving average of $315.69.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TSLA shares. Barclays lifted their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Piper Sandler lifted their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $319.57.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by insiders.

About Tesla

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.