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

Horizon Wealth Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,776 shares of the electric vehicle producer’s stock after purchasing an additional 1,327 shares during the quarter. Tesla accounts for 0.4% of Horizon Wealth Management LLC’s portfolio, making the stock its 23rd largest position. Horizon Wealth Management LLC’s holdings in Tesla were worth $2,333,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sunflower Bank N.A. boosted its position in shares of Tesla by 10.7% during the fourth quarter. Sunflower Bank N.A. now owns 3,394 shares of the electric vehicle producer’s stock worth $1,371,000 after purchasing an additional 328 shares in the last quarter. Davis Investment Partners LLC bought a new position in shares of Tesla during the fourth quarter worth $270,000. Friedenthal Financial boosted its position in shares of Tesla by 98,400.0% during the fourth quarter. Friedenthal Financial now owns 1,970 shares of the electric vehicle producer’s stock worth $796,000 after purchasing an additional 1,968 shares in the last quarter. Eastern Bank boosted its position in shares of Tesla by 826.4% during the fourth quarter. Eastern Bank now owns 70,918 shares of the electric vehicle producer’s stock worth $28,640,000 after purchasing an additional 63,263 shares in the last quarter. Finally, Persium Advisors LLC acquired a new stake in shares of Tesla during the fourth quarter worth $201,000. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock valued at $213,451,751 in the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $403.31 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.29 trillion, a P/E ratio of 110.50, a P/E/G 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. The firm has a 50-day moving average price of $379.81 and a two-hundred day moving average price of $283.29.

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

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a report on Thursday, October 24th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $230.00 to $515.00 in a report on Tuesday, December 17th. Jefferies Financial Group raised their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Finally, Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Nine equities 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $296.60.

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.