Grant Private Wealth Management Inc Acquires New Holdings in Tesla, Inc. $TSLA

Grant Private Wealth Management Inc bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,516 shares of the electric vehicle producer’s stock, valued at approximately $5,121,000. Tesla comprises 3.2% of Grant Private Wealth Management Inc’s portfolio, making the stock its 6th largest holding.

Several other large investors have also modified their holdings of TSLA. Brighton Jones LLC lifted its position in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares in the last quarter. Bison Wealth LLC boosted its stake in shares of Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Northwest & Ethical Investments L.P. grew its holdings in shares of Tesla by 518.2% during the first quarter. Northwest & Ethical Investments L.P. now owns 1,700 shares of the electric vehicle producer’s stock worth $440,000 after buying an additional 1,425 shares in the last quarter. Finally, EntryPoint Capital LLC raised its position in shares of Tesla by 79.2% in the first quarter. EntryPoint Capital LLC now owns 1,301 shares of the electric vehicle producer’s stock valued at $337,000 after buying an additional 575 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research report on Wednesday. Benchmark restated a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. Stifel Nicolaus upped their target price on Tesla from $483.00 to $508.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a research note on Thursday, October 30th. Finally, HSBC reaffirmed a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $400.86.

Tesla Stock Performance

NASDAQ TSLA opened at $467.26 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $495.28. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 311.51, a P/E/G ratio of 12.24 and a beta of 1.87. The business’s 50-day simple moving average is $437.67 and its 200-day simple moving average is $378.86.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $0.72 EPS. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the sale, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. The trade was a 3.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 19.90% of the company’s stock.

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.