Fairhaven Wealth Management LLC Has $753,000 Holdings in Tesla, Inc. (NASDAQ:TSLA)

Fairhaven Wealth Management LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,864 shares of the electric vehicle producer’s stock after acquiring an additional 45 shares during the quarter. Fairhaven Wealth Management LLC’s holdings in Tesla were worth $753,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter worth $29,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla during the 4th quarter worth about $46,000. PayPay Securities Corp increased its holdings in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Tesla during the 3rd quarter worth about $35,000. Finally, Finley Financial LLC bought a new position in Tesla during the 4th quarter worth about $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Benchmark assumed coverage on Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a report on Tuesday, February 18th. Barclays increased their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Canaccord Genuity Group raised their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Ten investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $319.57.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by insiders.

Tesla Stock Down 4.0 %

Shares of TSLA opened at $290.80 on Thursday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market cap of $935.36 billion, a P/E ratio of 142.55, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a 50 day simple moving average of $390.99 and a two-hundred day simple moving average of $315.51.

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

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.