Lineweaver Wealth Advisors LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Lineweaver Wealth Advisors LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.3% in the 4th quarter, Holdings Channel reports. The firm owned 11,812 shares of the electric vehicle producer’s stock after acquiring an additional 596 shares during the period. Tesla accounts for 0.9% of Lineweaver Wealth Advisors LLC’s portfolio, making the stock its 28th biggest holding. Lineweaver Wealth Advisors LLC’s holdings in Tesla were worth $4,770,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TSLA. Strategic Financial Concepts LLC raised its stake in shares of Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after purchasing an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TSLA. Jefferies Financial Group upped their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Wedbush set a $302.80 price objective on Tesla in a research report on Wednesday. Wells Fargo & Company upped their price objective on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $318.77.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was 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 directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 523,386 shares of company stock valued at $195,995,200. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $293.33 on Friday. The stock has a 50 day moving average of $385.35 and a 200 day moving average of $315.95. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a market cap of $943.49 billion, a PE ratio of 143.79, a PEG ratio of 5.86 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts expect 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.