Howard Capital Management Inc. Has $35.41 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Howard Capital Management Inc. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,674 shares of the electric vehicle producer’s stock after buying an additional 2,795 shares during the quarter. Tesla accounts for approximately 0.4% of Howard Capital Management Inc.’s investment portfolio, making the stock its 26th largest position. Howard Capital Management Inc.’s holdings in Tesla were worth $35,406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter valued at approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Tesla during the 4th quarter valued at approximately $46,000. PayPay Securities Corp increased its position in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the period. Peterson Financial Group Inc. bought a new position in shares of Tesla during the 3rd quarter worth approximately $35,000. Finally, Finley Financial LLC bought a new position in shares of Tesla during the 4th quarter worth approximately $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. Guggenheim restated a “sell” rating on shares of Tesla in a report on Tuesday. The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a report on Monday, February 10th. Piper Sandler increased their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, UBS Group increased their price target on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a report on Thursday, January 30th. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $319.57.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. The trade was a 6.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,903,716. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is currently owned by insiders.

Tesla Trading Down 8.4 %

Shares of TSLA opened at $302.80 on Wednesday. The business has a 50-day moving average of $393.98 and a 200 day moving average of $315.69. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market cap of $973.96 billion, a P/E ratio of 148.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS 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.