Redhawk Wealth Advisors Inc. Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Redhawk Wealth Advisors Inc. grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,268 shares of the electric vehicle producer’s stock after buying an additional 516 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Tesla were worth $3,339,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Abich Financial Wealth Management LLC lifted its position in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the 3rd quarter valued at approximately $29,000. Clean Yield Group boosted its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Tesla during the third quarter worth $35,000. Finally, M&R Capital Management Inc. raised its position in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. HSBC restated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Morgan Stanley boosted their price objective on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial reaffirmed a “hold” rating and issued a $360.00 target price on shares of Tesla in a report on Thursday, January 2nd. Wells Fargo & Company boosted their price target on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Guggenheim raised their price objective on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research note on Thursday, December 5th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has given 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 price target of $299.33.

Tesla Price Performance

TSLA opened at $413.82 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year 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 company’s 50 day simple moving average is $385.50 and its 200 day simple moving average is $285.69. The stock has a market capitalization of $1.33 trillion, a PE ratio of 113.38, a P/E/G ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping 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 firm posted $0.53 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the 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 directly owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by company insiders.

Tesla 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.