Premier Path Wealth Partners LLC Buys 1,279 Shares of Tesla, Inc. (NASDAQ:TSLA)

Premier Path Wealth Partners LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.8% during the 4th quarter, HoldingsChannel reports. The fund owned 17,576 shares of the electric vehicle producer’s stock after purchasing an additional 1,279 shares during the quarter. Tesla comprises 1.1% of Premier Path Wealth Partners LLC’s holdings, making the stock its 22nd biggest position. Premier Path Wealth Partners LLC’s holdings in Tesla were worth $7,098,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. King Luther Capital Management Corp boosted its position in shares of Tesla by 2.8% during the second quarter. King Luther Capital Management Corp now owns 6,348 shares of the electric vehicle producer’s stock valued at $1,256,000 after buying an additional 173 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Tesla by 2.7% during the 2nd quarter. Pacer Advisors Inc. now owns 289,756 shares of the electric vehicle producer’s stock valued at $57,337,000 after acquiring an additional 7,633 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Tesla by 62.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 20,289 shares of the electric vehicle producer’s stock valued at $4,015,000 after acquiring an additional 7,804 shares during the last quarter. Circle Wealth Management LLC grew its stake in shares of Tesla by 50.9% in the second quarter. Circle Wealth Management LLC now owns 21,318 shares of the electric vehicle producer’s stock worth $4,218,000 after acquiring an additional 7,193 shares during the period. Finally, Holderness Investments Co. lifted its position in Tesla by 10.0% during the second quarter. Holderness Investments Co. now owns 3,198 shares of the electric vehicle producer’s stock valued at $633,000 after purchasing an additional 290 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. UBS Group increased their target price on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday, November 25th. Piper Sandler boosted their price target on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Canaccord Genuity Group raised their price objective on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company upped their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $299.33.

Tesla Trading Up 3.1 %

Shares of NASDAQ TSLA opened at $426.50 on Monday. The business’s 50 day moving average price is $389.94 and its 200-day moving average price is $288.49. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market cap of $1.37 trillion, a price-to-earnings ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s 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 completion of the sale, 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 621,886 shares of company stock worth $213,451,751 in the last ninety days. 20.70% of the stock is owned by company insiders.

Tesla 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.