Tesla, Inc. (NASDAQ:TSLA) Shares Bought by RMR Wealth Builders

RMR Wealth Builders lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 72.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,376 shares of the electric vehicle producer’s stock after purchasing an additional 6,439 shares during the quarter. Tesla accounts for approximately 0.6% of RMR Wealth Builders’ investment portfolio, making the stock its 25th biggest holding. RMR Wealth Builders’ holdings in Tesla were worth $6,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. World Investment Advisors LLC boosted its position in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management increased its stake in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after acquiring an additional 1,359 shares during the period. Vinva Investment Management Ltd lifted its position in Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the period. MML Investors Services LLC boosted its holdings in Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated 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 completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

Shares of Tesla stock traded down $0.20 during trading on Friday, reaching $394.74. The company’s stock had a trading volume of 62,017,272 shares, compared to its average volume of 83,472,883. The firm has a market cap of $1.27 trillion, a PE ratio of 108.15, a P/E/G ratio of 10.80 and a beta of 2.30. The company has a 50-day moving average price of $373.68 and a two-hundred day moving average price of $279.12. 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 fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. On average, analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TSLA shares. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Piper Sandler lifted their price target on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. UBS Group increased their price objective on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday, November 25th. Robert W. Baird increased their price target on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Finally, Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $295.69.

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.