SMART Wealth LLC Has $2.44 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

SMART Wealth LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 661.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,042 shares of the electric vehicle producer’s stock after acquiring an additional 5,248 shares during the quarter. SMART Wealth LLC’s holdings in Tesla were worth $2,440,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC raised its stake in shares of 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 worth $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management lifted its stake in shares of Tesla by 12.1% in 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 boosted its position in shares of 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 purchasing an additional 43,685 shares during the last quarter. MML Investors Services LLC increased its holdings in Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares during the last quarter. Finally, Stephens Consulting LLC boosted its holdings in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after buying an additional 891 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 635,776 shares of company stock worth $231,335,112 over the last quarter. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Friday, January 3rd. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $365.00 target price on shares of Tesla in a research note on Wednesday, January 29th. Robert W. Baird cut their price objective on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Finally, Morgan Stanley increased their target price on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $321.71.

Tesla Stock Down 3.0 %

TSLA stock opened at $350.73 on Tuesday. The business’s 50 day simple moving average is $408.27 and its 200 day simple moving average is $304.55. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market capitalization of $1.13 trillion, a PE ratio of 171.93, a PEG ratio of 6.22 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current year.

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.