Waterfront Wealth Inc. Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Waterfront Wealth Inc. raised its position in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 209.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,773 shares of the electric vehicle producer’s stock after buying an additional 2,553 shares during the period. Waterfront Wealth Inc.’s holdings in Tesla were worth $852,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cranbrook Wealth Management LLC boosted its holdings in Tesla by 224.1% in the third quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 65 shares during the period. Coston McIsaac & Partners boosted its holdings in Tesla by 200.0% in the third quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 64 shares during the period. TFO TDC LLC purchased a new position in Tesla in the second quarter valued at $27,000. Horan Securities Inc. boosted its holdings in Tesla by 164.3% in the second quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 23 shares during the period. Finally, West Oak Capital LLC purchased a new position in Tesla in the third quarter valued at $27,000. 43.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TSLA shares. Bank of America decreased their price target on Tesla from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, January 17th. The Goldman Sachs Group decreased their price target on Tesla from $235.00 to $205.00 and set a “buy” rating for the company in a report on Monday, January 2nd. Evercore ISI decreased their price target on Tesla from $300.00 to $200.00 and set an “in-line” rating for the company in a report on Tuesday, December 20th. Royal Bank of Canada decreased their price target on Tesla from $225.00 to $186.00 in a report on Tuesday, January 3rd. Finally, Daiwa Capital Markets decreased their price target on Tesla from $240.00 to $177.00 and set an “outperform” rating for the company in a report on Tuesday, December 20th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $218.29.

Tesla Stock Performance

NASDAQ TSLA opened at $133.42 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $150.72 and its two-hundred day moving average is $221.87. Tesla, Inc. has a 12-month low of $101.81 and a 12-month high of $384.29. The stock has a market capitalization of $421.31 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 1.10 and a beta of 2.02.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the transaction, the senior vice president now owns 62,988 shares in the company, valued at approximately $14,484,090.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the sale, the senior vice president now owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Elon Musk sold 9,650,000 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $208.58, for a total value of $2,012,797,000.00. Following the sale, the chief executive officer now directly owns 455,467,432 shares in the company, valued at approximately $95,001,396,966.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,172,833 shares of company stock worth $4,492,567,309. Company insiders own 25.10% of the company’s stock.

Tesla Profile

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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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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