BetterWealth LLC Purchases 143 Shares of Tesla, Inc. (NASDAQ:TSLA)

BetterWealth LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,556 shares of the electric vehicle producer’s stock after purchasing an additional 143 shares during the period. Tesla accounts for 0.4% of BetterWealth LLC’s investment portfolio, making the stock its 28th biggest position. BetterWealth LLC’s holdings in Tesla were worth $1,436,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on 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 completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 553,386 shares of company stock valued at $196,305,796. 20.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TSLA. Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Wells Fargo & Company increased their target price on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Tesla in a research note on Thursday. Mizuho restated an “outperform” rating and issued a $515.00 target price on shares of Tesla in a report on Thursday. Finally, Piper Sandler upped their price target on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Nine investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $318.31.

Tesla Price Performance

TSLA opened at $404.60 on Friday. The company’s 50-day simple moving average is $404.22 and its two-hundred day simple moving average is $299.05. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market capitalization of $1.30 trillion, a P/E ratio of 198.33, a P/E/G ratio of 8.08 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last posted its 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 return on equity of 10.54% and a net margin of 7.26%. As a group, analysts predict that Tesla, Inc. will post 2.82 EPS for the current year.

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.