Highline Wealth Partners LLC Has $4.76 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Highline Wealth Partners LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,378 shares of the electric vehicle producer’s stock after selling 59 shares during the period. Tesla makes up 1.6% of Highline Wealth Partners LLC’s holdings, making the stock its 20th largest position. Highline Wealth Partners LLC’s holdings in Tesla were worth $4,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC lifted its position in Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after buying an additional 1,655,203 shares in the last quarter. Norges Bank bought a new stake in Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC lifted its position in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of Tesla stock opened at $325.31 on Monday. Tesla, Inc. has a fifty-two week low of $177.00 and a fifty-two week high of $488.54. 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 market capitalization of $1.05 trillion, a P/E ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47. The company’s 50 day moving average price is $299.39 and its two-hundred day moving average price is $332.88.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the business posted $0.45 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Bank of America cut their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an “underperform” rating in a report on Wednesday, April 16th. Mizuho upped their target price on shares of Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Canaccord Genuity Group lowered their price target on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Benchmark reissued a “buy” rating and issued a $350.00 price target on shares of Tesla in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $293.67.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock valued at $273,791,775 over the last quarter. Insiders own 20.70% of the company’s stock.

About Tesla

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.