Heritage Wealth Management Inc. CA Has $252,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Heritage Wealth Management Inc. CA reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 625 shares of the electric vehicle producer’s stock after selling 261 shares during the period. Heritage Wealth Management Inc. CA’s holdings in Tesla were worth $252,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TSLA. Vanguard Group Inc. lifted its stake in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after purchasing an additional 1,022,589 shares during the last quarter. FMR LLC boosted its holdings in Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Tesla by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after buying an additional 780,026 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft upped their price target on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Truist Financial lifted their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $318.93.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $278.39 on Tuesday. The stock has a market capitalization of $895.45 billion, a price-to-earnings ratio of 136.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The business’s fifty day moving average price is $332.69 and its two-hundred day moving average price is $321.49. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. 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 (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. This represents a 9.02 % decrease in their position. The transaction was disclosed in a legal filing 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 Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by 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.