Destiny Wealth Partners LLC Buys 21,725 Shares of Tesla, Inc. $TSLA

Destiny Wealth Partners LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 124.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,199 shares of the electric vehicle producer’s stock after purchasing an additional 21,725 shares during the quarter. Tesla comprises about 2.1% of Destiny Wealth Partners LLC’s investment portfolio, making the stock its 13th biggest position. Destiny Wealth Partners LLC’s holdings in Tesla were worth $17,432,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares during the last quarter. Bison Wealth LLC raised its position 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 valued at $4,187,000 after buying an additional 3,558 shares in the last quarter. Tocqueville Asset Management L.P. lifted its holdings in shares of Tesla by 20.6% in the 1st quarter. Tocqueville Asset Management L.P. now owns 1,371 shares of the electric vehicle producer’s stock valued at $355,000 after acquiring an additional 234 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. grew its position in Tesla by 518.2% in the first quarter. Northwest & Ethical Investments L.P. now owns 1,700 shares of the electric vehicle producer’s stock worth $440,000 after acquiring an additional 1,425 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares in the company, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 56,820 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. DZ Bank restated a “sell” rating on shares of Tesla in a research report on Thursday, October 23rd. Wedbush reiterated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research report on Monday. Canaccord Genuity Group reduced their target price on shares of Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Finally, Benchmark reaffirmed a “buy” rating on shares of Tesla in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $400.86.

Tesla Stock Up 3.1%

Shares of TSLA opened at $489.88 on Wednesday. The firm has a fifty day moving average price of $437.09 and a 200-day moving average price of $378.24. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.63 trillion, a P/E ratio of 326.59, a P/E/G ratio of 11.88 and a beta of 1.87. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $491.50.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current 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.