HighPoint Advisor Group LLC Buys 459 Shares of Tesla, Inc. (NASDAQ:TSLA)

HighPoint Advisor Group LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,610 shares of the electric vehicle producer’s stock after buying an additional 459 shares during the period. Tesla makes up about 2.2% of HighPoint Advisor Group LLC’s holdings, making the stock its 6th biggest holding. HighPoint Advisor Group LLC’s holdings in Tesla were worth $39,015,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meridian Investment Counsel Inc. raised its holdings in shares of Tesla by 19.4% in the 4th quarter. Meridian Investment Counsel Inc. now owns 1,051 shares of the electric vehicle producer’s stock worth $424,000 after purchasing an additional 171 shares during the period. Franklin Resources Inc. raised its holdings in Tesla by 69.5% in the fourth quarter. Franklin Resources Inc. now owns 6,710,535 shares of the electric vehicle producer’s stock valued at $2,709,982,000 after buying an additional 2,752,361 shares during the period. Riggs Capital Management LLC acquired a new position in Tesla during the fourth quarter valued at approximately $465,000. B. Metzler seel. Sohn & Co. AG grew its stake in Tesla by 11.4% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 187,434 shares of the electric vehicle producer’s stock worth $76,199,000 after buying an additional 19,182 shares during the period. Finally, Seven Mile Advisory increased its position in shares of Tesla by 17.1% in the fourth quarter. Seven Mile Advisory now owns 4,137 shares of the electric vehicle producer’s stock worth $1,671,000 after acquiring an additional 604 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research reports. Royal Bank of Canada decreased their price target on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Morgan Stanley dropped their target price on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company lowered their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Finally, Truist Financial boosted their target price on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $318.34.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 3.5 %

NASDAQ:TSLA opened at $263.55 on Monday. The firm has a market capitalization of $847.71 billion, a P/E ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50. The business has a 50 day simple moving average of $321.33 and a 200 day simple moving average of $323.01. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.