Widmann Financial Services Inc. Invests $4.65 Million in Tesla, Inc. (NASDAQ:TSLA)

Widmann Financial Services Inc. purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,768 shares of the electric vehicle producer’s stock, valued at approximately $4,649,000. Tesla makes up approximately 3.5% of Widmann Financial Services Inc.’s investment portfolio, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Encompass More Asset Management boosted its stake in Tesla by 479.0% during the third quarter. Encompass More Asset Management now owns 9,641 shares of the electric vehicle producer’s stock worth $2,522,000 after acquiring an additional 7,976 shares in the last quarter. L.M. Kohn & Company lifted its holdings in shares of Tesla by 8.8% during the third quarter. L.M. Kohn & Company now owns 5,298 shares of the electric vehicle producer’s stock valued at $1,386,000 after purchasing an additional 427 shares during the last quarter. Kolinsky Wealth Management LLC bought a new stake in shares of Tesla in the 3rd quarter worth approximately $301,000. Ironwood Investment Counsel LLC grew its stake in shares of Tesla by 29.4% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 9,435 shares of the electric vehicle producer’s stock worth $2,468,000 after buying an additional 2,141 shares during the last quarter. Finally, Point72 Europe London LLP bought a new position in Tesla during the 3rd quarter valued at approximately $1,748,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 3.7 %

Shares of TSLA stock opened at $345.16 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a fifty day simple moving average of $274.55 and a two-hundred day simple moving average of $231.81. The firm has a market capitalization of $1.11 trillion, a PE ratio of 94.56, a PEG ratio of 10.81 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $361.93.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the business posted $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Truist Financial raised their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. UBS Group upped their target price on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. Canaccord Genuity Group raised their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, William Blair assumed coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $231.06.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock worth $92,956,692 over the last quarter. Insiders own 20.70% of the company’s stock.

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.