Destiny Wealth Partners LLC Raises Holdings in Tesla, Inc. $TSLA

Destiny Wealth Partners LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 124.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,199 shares of the electric vehicle producer’s stock after purchasing an additional 21,725 shares during the period. Tesla comprises about 2.1% of Destiny Wealth Partners LLC’s investment portfolio, making the stock its 13th biggest holding. Destiny Wealth Partners LLC’s holdings in Tesla were worth $17,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chapman Financial Group LLC bought a new position in Tesla during the 2nd quarter valued at about $26,000. LGT Financial Advisors LLC purchased a new position in shares of Tesla during the second quarter valued at approximately $29,000. CoreFirst Bank & Trust bought a new position in Tesla during the second quarter valued at approximately $30,000. ESL Trust Services LLC lifted its position in Tesla by 1,900.0% during the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 95 shares during the period. Finally, Delos Wealth Advisors LLC purchased a new stake in Tesla in the second quarter worth approximately $32,000. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 3.1%

Tesla stock opened at $489.88 on Wednesday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $491.50. The firm has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 326.59, a P/E/G ratio of 11.88 and a beta of 1.87. The firm has a 50 day moving average of $437.09 and a 200 day moving average of $378.24. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares in the company, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares in the company, valued at $627,145,215.90. The trade was a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TSLA. Bank of America increased their price target on Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Morgan Stanley set a $425.00 target price on Tesla and gave the company an “equal weight” rating in a report on Sunday, December 7th. Canaccord Genuity Group cut their price target on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Melius started coverage on shares of Tesla in a research note on Monday, October 13th. They issued a “buy” rating and a $520.00 price objective on the stock. Finally, TD Cowen raised their price objective on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $400.86.

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.