Horizon Wealth Management LLC Has $2.33 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Horizon Wealth Management LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,776 shares of the electric vehicle producer's stock after acquiring an additional 1,327 shares during the period. Tesla makes up approximately 0.4% of Horizon Wealth Management LLC's holdings, making the stock its 23rd largest holding. Horizon Wealth Management LLC's holdings in Tesla were worth $2,333,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TSLA. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the third quarter worth $29,000. Clean Yield Group raised its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Tesla during the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. grew its holdings in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the topic of several research analyst reports. Glj Research reaffirmed a "sell" rating and set a $24.86 price target on shares of Tesla in a research report on Friday, January 3rd. Phillip Securities lowered Tesla from a "moderate sell" rating to a "strong sell" rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on Tesla from $130.00 to $135.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Barclays raised their price objective on Tesla from $220.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company raised their price target on shares of Tesla from $120.00 to $125.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $296.60.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 60,500 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares of the company's stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is owned by company insiders.

Tesla Stock Down 1.7 %

NASDAQ:TSLA traded down $6.95 during trading hours on Tuesday, hitting $396.36. 83,986,800 shares of the stock traded hands, compared to its average volume of 81,639,867. The firm has a 50 day moving average price of $382.71 and a 200 day moving average price of $284.69. The firm has a market cap of $1.27 trillion, a price-to-earnings ratio of 108.59, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the business earned $0.53 EPS. The business's revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current 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.