HighPoint Advisor Group LLC Purchases New Holdings in Tesla, Inc. (NASDAQ:TSLA)

HighPoint Advisor Group LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 93,795 shares of the electric vehicle producer’s stock, valued at approximately $23,306,000. Tesla accounts for approximately 1.8% of HighPoint Advisor Group LLC’s investment portfolio, making the stock its 8th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares in the last quarter. Norges Bank bought a new position in shares of Tesla during the 4th quarter valued at about $7,844,757,000. Morgan Stanley grew its position in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Northern Trust Corp raised its holdings in Tesla by 3.4% during the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after buying an additional 909,170 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Tesla by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after buying an additional 458,804 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $175.00 price objective on shares of Tesla in a research report on Friday, June 14th. Wedbush reiterated an “outperform” rating and set a $275.00 target price on shares of Tesla in a report on Friday, June 14th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Tesla in a research report on Monday, April 22nd. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research report on Monday, June 10th. Finally, UBS Group reduced their price target on Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $185.90.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $184.86 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The stock’s fifty day moving average price is $173.35 and its two-hundred day moving average price is $194.23. The firm has a market cap of $589.55 billion, a price-to-earnings ratio of 47.16, a P/E/G ratio of 4.65 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, equities analysts forecast that Tesla, Inc. will post 1.87 EPS for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,855 shares of company stock worth $19,285,643. 20.90% of the stock is currently owned by corporate insiders.

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.