Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Sheets Smith Wealth Management

Sheets Smith Wealth Management grew its holdings in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 200.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,596 shares of the electric vehicle producer’s stock after purchasing an additional 1,064 shares during the period. Sheets Smith Wealth Management’s holdings in Tesla were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Arjuna Capital lifted its stake in shares of Tesla by 199.8% in the 3rd quarter. Arjuna Capital now owns 13,065 shares of the electric vehicle producer’s stock valued at $3,465,000 after purchasing an additional 8,707 shares during the last quarter. Spectrum Management Group LLC lifted its stake in Tesla by 553.0% during the 3rd quarter. Spectrum Management Group LLC now owns 1,306 shares of the electric vehicle producer’s stock worth $346,000 after acquiring an additional 1,106 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in Tesla by 145.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 152,598 shares of the electric vehicle producer’s stock worth $40,476,000 after acquiring an additional 90,530 shares in the last quarter. Hartline Investment Corp lifted its stake in Tesla by 213.7% during the 3rd quarter. Hartline Investment Corp now owns 2,265 shares of the electric vehicle producer’s stock worth $601,000 after acquiring an additional 1,543 shares in the last quarter. Finally, Lineweaver Wealth Advisors LLC lifted its stake in Tesla by 197.7% during the 3rd quarter. Lineweaver Wealth Advisors LLC now owns 5,815 shares of the electric vehicle producer’s stock worth $1,542,000 after acquiring an additional 3,862 shares in the last quarter. Institutional investors and hedge funds own 43.00% of the company’s stock.

Tesla Stock Up 4.9 %

Tesla stock opened at $133.42 on Monday. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $384.29. The stock has a 50 day moving average of $150.72 and a two-hundred day moving average of $221.87. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $421.31 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 1.10 and a beta of 2.02.

Analyst Ratings Changes

Several research firms recently issued reports on TSLA. Wedbush decreased their target price on Tesla from $250.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, December 23rd. Truist Financial decreased their target price on Tesla from $348.00 to $299.00 and set a “buy” rating on the stock in a research note on Tuesday, January 3rd. The Goldman Sachs Group decreased their target price on Tesla from $235.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, January 2nd. Edward Jones upgraded Tesla from a “hold” rating to a “buy” rating in a report on Thursday, January 5th. Finally, Cowen cut their price target on Tesla from $244.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 20th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $218.29.

Insiders Place Their Bets

In other Tesla news, CEO Elon Musk sold 9,650,000 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $208.58, for a total transaction of $2,012,797,000.00. Following the completion of the sale, the chief executive officer now directly owns 455,467,432 shares of the company’s stock, valued at approximately $95,001,396,966.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total value of $2,414,475.00. Following the completion of the sale, the senior vice president now directly owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Elon Musk sold 9,650,000 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $208.58, for a total value of $2,012,797,000.00. Following the completion of the sale, the chief executive officer now directly owns 455,467,432 shares of the company’s stock, valued at $95,001,396,966.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,172,833 shares of company stock valued at $4,492,567,309. 25.10% of the stock is owned by company insiders.

Tesla Company Profile

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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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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