Howard Capital Management Inc. Has $32.52 Million Stock Holdings in Tesla, Inc. $TSLA

Howard Capital Management Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,359 shares of the electric vehicle producer’s stock after buying an additional 24,619 shares during the period. Tesla comprises about 0.4% of Howard Capital Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Howard Capital Management Inc.’s holdings in Tesla were worth $32,515,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares in the last quarter. Bison Wealth LLC increased its stake in shares of Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Tesla by 6.4% during the 1st quarter. Golden State Wealth Management LLC now owns 17,619 shares of the electric vehicle producer’s stock valued at $4,566,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Colonial River Investments LLC lifted its stake in shares of Tesla by 60.3% in the 1st quarter. Colonial River Investments LLC now owns 9,824 shares of the electric vehicle producer’s stock valued at $2,546,000 after purchasing an additional 3,695 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

Tesla Stock Up 4.3%

TSLA opened at $452.42 on Tuesday. The business has a 50 day moving average of $400.41 and a 200-day moving average of $342.47. The stock has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 301.61, a P/E/G ratio of 15.45 and a beta of 2.08. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Tesla’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Saturday. DZ Bank reissued a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Mizuho boosted their target price on Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tesla in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $381.00.

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.