Tesla, Inc. (NASDAQ: TSLA) continues to dominate headlines as institutional investors pile into the electric vehicle giant. BXM Wealth LLC is the latest to join the Tesla frenzy, acquiring 1,015 shares in the fourth quarter, valued at approximately $410,000, according to the company’s latest 13F filing with the Securities and Exchange Commission (SEC).
Institutional Investors Show Confidence in Tesla
BXM Wealth LLC isn’t alone in its bullish stance on Tesla. Other hedge funds and financial institutions have made significant moves to increase their holdings in the company:
- Swedbank AB boosted its Tesla stake by 2.8% in Q3, now holding 1,098,717 shares valued at $287.46 million.
- Whittier Trust Co. of Nevada Inc. raised its stake by 23.7%, bringing its total ownership to 12,172 shares worth $3.19 million.
- Venture Visionary Partners LLC increased its Tesla holdings by 1.5%, owning 41,371 shares valued at $10.82 million.
- Integrity Wealth Solutions LLC lifted its Tesla position by 6.1% to 8,347 shares valued at $2.18 million.
- Raleigh Capital Management Inc. expanded its stake by 10.7%, holding 3,561 shares worth $932,000.
With institutional investors and hedge funds now owning 66.20% of Tesla stock, it’s clear that confidence in the company remains strong.
Tesla Stock Performance & Key Metrics
Tesla opened at $354.11 on Wednesday, with a 52-week range spanning from $138.80 to $488.54. The company’s 50-day moving average stands at $405.64, while the 200-day moving average is $309.75. Tesla’s financial health remains solid with:
- Current ratio: 2.02
- Quick ratio: 1.61
- Debt-to-equity ratio: 0.08
With a market capitalization of $1.14 trillion, Tesla boasts a P/E ratio of 173.58, a PEG ratio of 6.22, and a beta of 2.34, indicating high volatility.
Tesla’s Recent Earnings Report
Tesla’s Q4 earnings report, released on January 29th, showed earnings per share (EPS) of $0.66, slightly below analysts’ expectations of $0.74. The company reported a net margin of 7.26% and a return on equity of 10.31%. Analysts forecast that Tesla will post EPS of 2.54 for the current fiscal year.
Wall Street Analysts Revise Tesla Price Targets
Tesla’s stock continues to attract mixed reactions from analysts:
- Guggenheim reiterated a “sell” rating with a $175.00 price target.
- Robert W. Baird lowered its price target from $480.00 to $440.00, maintaining an “outperform” rating.
- Stifel Nicolaus adjusted its target from $492.00 to $474.00, keeping a “buy” rating.
- Canaccord Genuity Group increased its price objective from $254.00 to $278.00, assigning a “buy” rating.
- Morgan Stanley revised its target from $400.00 to $430.00, maintaining an “overweight” stance.
Currently, Tesla holds a consensus rating of “Hold” with an average price target of $326.50, according to MarketBeat.
Insider Activity: Tesla Executives Cash Out Millions
Tesla insiders have been offloading stock recently:
- CFO Vaibhav Taneja sold 7,000 shares at an average price of $354.43, totaling $2.48 million.
- Director Kimbal Musk sold 75,000 shares at $367.87 per share, worth $27.59 million.
In the last 90 days, Tesla insiders sold 523,386 shares, amounting to $195.99 million, with insider ownership currently at 20.70%.
Final Thoughts
With institutional investors increasing their positions, analysts providing mixed ratings, and insiders selling shares, Tesla remains a stock to watch. The EV giant continues to be a focal point for investors looking to ride the wave of innovation, despite market volatility.
