Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,323 shares of the electric vehicle producer’s stock after purchasing an additional 1,216 shares during the quarter. Tesla comprises 0.8% of Wedmont Private Capital’s portfolio, making the stock its 21st largest holding. Wedmont Private Capital’s holdings in Tesla were worth $15,917,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TSLA. World Investment Advisors LLC raised its holdings in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after acquiring an additional 184,459 shares during the period. Destination Wealth Management increased its stake in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd raised its holdings in Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after buying an additional 43,685 shares in the last quarter. MML Investors Services LLC boosted its position in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after acquiring an additional 1,741 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

TSLA stock traded down $0.49 during trading hours on Monday, reaching $394.25. The stock had a trading volume of 46,424,762 shares, compared to its average volume of 78,109,430. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a 50-day simple moving average of $376.60 and a 200 day simple moving average of $281.84. The stock has a market capitalization of $1.27 trillion, a PE ratio of 108.01, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Royal Bank of Canada upped their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Evercore ISI lifted their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Stifel Nicolaus boosted their price objective on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $296.60.

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.