HighMark Wealth Management LLC Has $437,000 Holdings in Tesla, Inc. (NASDAQ:TSLA)

HighMark Wealth Management LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,082 shares of the electric vehicle producer’s stock after selling 85 shares during the quarter. HighMark Wealth Management LLC’s holdings in Tesla were worth $437,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Swedbank AB grew its position in Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares in the last quarter. Courier Capital LLC acquired a new stake in shares of Tesla in the third quarter worth $262,000. YHB Investment Advisors Inc. grew its holdings in shares of Tesla by 16.7% during the third quarter. YHB Investment Advisors Inc. now owns 2,613 shares of the electric vehicle producer’s stock valued at $684,000 after buying an additional 374 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Tesla by 34.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after buying an additional 1,059 shares during the period. Finally, Bogart Wealth LLC boosted its position in Tesla by 80.3% during the 3rd quarter. Bogart Wealth LLC now owns 2,324 shares of the electric vehicle producer’s stock worth $608,000 after acquiring an additional 1,035 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

NASDAQ:TSLA opened at $337.80 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a fifty day moving average price of $400.17 and a 200 day moving average price of $312.40. The stock has a market cap of $1.09 trillion, a P/E ratio of 165.59, a PEG ratio of 5.97 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Benchmark initiated coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective on the stock. Jefferies Financial Group increased their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 price target on shares of Tesla in a report on Wednesday, January 29th. Finally, Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $326.50.

About Tesla

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.