Hubbell Strickland Wealth Management LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Hubbell Strickland Wealth Management LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 532 shares of the electric vehicle producer’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. King Luther Capital Management Corp lifted its position in Tesla by 2.8% in the 2nd quarter. King Luther Capital Management Corp now owns 6,348 shares of the electric vehicle producer’s stock valued at $1,256,000 after acquiring an additional 173 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Tesla by 2.7% in the 2nd quarter. Pacer Advisors Inc. now owns 289,756 shares of the electric vehicle producer’s stock valued at $57,337,000 after purchasing an additional 7,633 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Tesla by 62.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 20,289 shares of the electric vehicle producer’s stock valued at $4,015,000 after purchasing an additional 7,804 shares in the last quarter. Circle Wealth Management LLC grew its holdings in shares of Tesla by 50.9% during the second quarter. Circle Wealth Management LLC now owns 21,318 shares of the electric vehicle producer’s stock worth $4,218,000 after buying an additional 7,193 shares in the last quarter. Finally, Holderness Investments Co. raised its position in Tesla by 10.0% in the 2nd quarter. Holderness Investments Co. now owns 3,198 shares of the electric vehicle producer’s stock valued at $633,000 after buying an additional 290 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was 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 directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock valued at $213,451,751 over the last ninety days. 20.70% of the stock is owned by company insiders.

Tesla Trading Up 3.1 %

TSLA opened at $426.50 on Monday. The company’s 50 day moving average price is $389.94 and its two-hundred day moving average price is $288.49. The firm has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30. 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 1.84 and a quick ratio of 1.37.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TSLA. Wedbush reaffirmed an “outperform” rating and set a $400.00 price target on shares of Tesla in a research note on Monday, November 18th. HSBC reiterated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Evercore ISI increased their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Royal Bank of Canada lifted their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Finally, Glj Research reissued a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Friday, January 3rd. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $299.33.

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.