Wealth Group Ltd Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Wealth Group Ltd acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 682 shares of the electric vehicle producer’s stock, valued at approximately $275,000.

Other institutional investors also recently modified their holdings of the company. Cumberland Advisors Inc. acquired a new stake in Tesla in the fourth quarter worth $267,000. First Hawaiian Bank increased its stake in Tesla by 17.2% during the 4th quarter. First Hawaiian Bank now owns 10,724 shares of the electric vehicle producer’s stock valued at $4,331,000 after purchasing an additional 1,573 shares in the last quarter. Private Client Services LLC acquired a new stake in shares of Tesla in the 4th quarter worth about $206,000. Fulton Bank N.A. lifted its holdings in shares of Tesla by 18.6% in the fourth quarter. Fulton Bank N.A. now owns 25,865 shares of the electric vehicle producer’s stock valued at $10,445,000 after purchasing an additional 4,059 shares in the last quarter. Finally, Hilltop Wealth Advisors LLC purchased a new position in Tesla during the 4th quarter worth $211,000. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 514,886 shares of company stock valued at $169,393,831. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Guggenheim lifted their price target on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research report on Thursday, December 5th. Canaccord Genuity Group increased their target price on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Morgan Stanley raised their price objective on shares of Tesla from $310.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $295.69.

Tesla Stock Up 0.1 %

Shares of NASDAQ TSLA traded up $0.58 during trading on Wednesday, reaching $394.94. The company had a trading volume of 72,816,797 shares, compared to its average volume of 87,822,344. The business’s 50-day moving average is $368.03 and its 200 day moving average is $277.49. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.27 trillion, a PE ratio of 108.20, a P/E/G ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Tesla Company 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.