Belpointe Asset Management LLC Acquires 9,369 Shares of Tesla, Inc. (NASDAQ:TSLA)

Belpointe Asset Management LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 25.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,813 shares of the electric vehicle producer’s stock after buying an additional 9,369 shares during the period. Tesla comprises 1.1% of Belpointe Asset Management LLC’s portfolio, making the stock its 14th biggest holding. Belpointe Asset Management LLC’s holdings in Tesla were worth $18,905,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of TSLA. Hanlon Investment Management Inc. lifted its holdings in shares of Tesla by 17.4% during the fourth quarter. Hanlon Investment Management Inc. now owns 1,045 shares of the electric vehicle producer’s stock valued at $422,000 after acquiring an additional 155 shares during the period. CreativeOne Wealth LLC lifted its position in Tesla by 17.6% during the 4th quarter. CreativeOne Wealth LLC now owns 43,585 shares of the electric vehicle producer’s stock valued at $17,602,000 after purchasing an additional 6,518 shares during the period. Cahaba Wealth Management Inc. bought a new position in Tesla in the fourth quarter valued at approximately $235,000. Mariner LLC grew its stake in shares of Tesla by 75.1% during the fourth quarter. Mariner LLC now owns 2,151,934 shares of the electric vehicle producer’s stock worth $869,142,000 after purchasing an additional 923,254 shares during the period. Finally, Cohen & Steers Inc. increased its stake in shares of Tesla by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 1,693 shares of the electric vehicle producer’s stock valued at $684,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock valued at $123,791,123 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $251.96 on Monday. 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, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a market capitalization of $810.42 billion, a P/E ratio of 123.51, a PEG ratio of 5.86 and a beta of 2.58. The stock has a 50 day moving average price of $285.19 and a two-hundred day moving average price of $323.57.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Guggenheim dropped their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley lowered their target price on Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Wedbush reduced their price target on shares of Tesla from $550.00 to $315.00 and set an “outperform” rating for the company in a report on Monday, April 7th. Wells Fargo & Company cut their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Finally, Mizuho dropped their price target on Tesla from $430.00 to $375.00 and set an “outperform” rating on the stock in a research note on Thursday. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $298.59.

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.