HighMark Wealth Management LLC Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

HighMark Wealth Management LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 139.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,595 shares of the electric vehicle producer's stock after buying an additional 1,513 shares during the quarter. Tesla makes up about 0.4% of HighMark Wealth Management LLC's investment portfolio, making the stock its 27th largest position. HighMark Wealth Management LLC's holdings in Tesla were worth $671,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of Tesla in the 4th quarter worth about $56,600,000. Means Investment CO. Inc. lifted its holdings in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after buying an additional 6,323 shares in the last quarter. Focus Financial Network Inc. boosted its holdings in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. lifted its holdings in shares of Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after buying an additional 1,629 shares during the period. Finally, Harvard Management Co. Inc. purchased a new stake in Tesla in the fourth quarter worth about $8,158,000. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. Wells Fargo & Company cut their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. BNP Paribas set a $137.00 target price on Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Glj Research restated a "sell" rating and set a $19.05 price objective (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Finally, UBS Group increased their price objective on shares of Tesla from $190.00 to $215.00 and gave the company a "sell" rating in a research report on Monday. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average target price of $298.37.

Insider Buying and Selling

In other news, Director Joseph Gebbia acquired 4,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the transaction, the director now owns 4,111 shares in the company, valued at approximately $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is owned by insiders.

Tesla Price Performance

NASDAQ:TSLA traded down $2.15 during trading hours on Friday, hitting $323.63. 88,778,334 shares of the stock were exchanged, compared to its average volume of 101,831,874. The firm's fifty day moving average price is $313.28 and its 200 day moving average price is $331.01. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a market cap of $1.04 trillion, a P/E ratio of 177.82, a P/E/G ratio of 12.25 and a beta of 2.47. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.