Horizon Wealth Management LLC Buys 1,327 Shares of Tesla, Inc. (NASDAQ:TSLA)

Horizon Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 29.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,776 shares of the electric vehicle producer’s stock after purchasing an additional 1,327 shares during the quarter. Tesla makes up approximately 0.4% of Horizon Wealth Management LLC’s portfolio, making the stock its 23rd largest holding. Horizon Wealth Management LLC’s holdings in Tesla were worth $2,333,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock valued at $213,451,751 over the last ninety days. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Truist Financial reissued a “hold” rating and set a $360.00 target price on shares of Tesla in a research report on Thursday, January 2nd. Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $230.00 to $515.00 in a report on Tuesday, December 17th. Robert W. Baird upped their target price on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler lifted their price target on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $296.60.

Tesla Stock Up 2.2 %

NASDAQ TSLA opened at $403.31 on Tuesday. The stock has a market capitalization of $1.29 trillion, a P/E ratio of 110.50, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a fifty day moving average of $379.81 and a 200-day moving average of $283.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm 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 company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. On average, equities research analysts forecast that Tesla, Inc. will post 1.99 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.