Heartwood Wealth Advisors LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Heartwood Wealth Advisors LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 771 shares of the electric vehicle producer’s stock, valued at approximately $311,000.

Several other institutional investors have also added to or reduced their stakes in TSLA. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Tesla during the 3rd quarter valued at about $29,000. Clean Yield Group lifted its position in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Finally, Peterson Financial Group Inc. bought a new position in shares of Tesla during the third quarter valued at approximately $35,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 0.2 %

Shares of Tesla stock traded up $0.71 during trading on Friday, hitting $395.65. 50,792,466 shares of the stock were exchanged, compared to its average volume of 81,579,945. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm’s 50-day moving average price is $373.68 and its 200 day moving average price is $279.12. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 108.40, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. As a group, analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on TSLA. Truist Financial restated a “hold” rating and set a $360.00 target price on shares of Tesla in a report on Thursday, January 2nd. Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Canaccord Genuity Group boosted their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Glj Research reaffirmed a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Friday, January 3rd. Finally, Canaccord Genuity Group boosted their target price on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, fifteen 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, the stock currently has an average rating of “Hold” and a consensus target price of $295.69.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on 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 completion of the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by corporate insiders.

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.