Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Destiny Wealth Partners LLC

Destiny Wealth Partners LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 531.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,449 shares of the electric vehicle producer’s stock after purchasing an additional 7,953 shares during the period. Destiny Wealth Partners LLC’s holdings in Tesla were worth $3,816,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hengehold Capital Management LLC raised its holdings in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares during the last quarter. Strategic Investment Advisors MI increased its position in Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the period. Acropolis Investment Management LLC grew its position in shares of Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD grew its position in shares of Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after buying an additional 25 shares during the period. Finally, Prospect Financial Services LLC lifted its holdings in shares of Tesla by 0.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 2.2 %

TSLA stock opened at $392.21 on Wednesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $405.12 and its two-hundred day simple moving average is $300.65. The stock has a market cap of $1.26 trillion, a P/E ratio of 192.26, a P/E/G ratio of 6.79 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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%. Analysts expect that Tesla, Inc. will post 2.82 EPS for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and increased their price target for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, Canaccord Genuity Group lifted their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $318.31.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $36,761,200. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 553,386 shares of company stock worth $196,305,796. 20.70% of the stock is owned by company 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.