Wealth Group Ltd Invests $275,000 in Tesla, Inc. (NASDAQ:TSLA)

Wealth Group Ltd purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 682 shares of the electric vehicle producer’s stock, valued at approximately $275,000.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Connable Office Inc. increased its holdings in shares of Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after acquiring an additional 38 shares during the last quarter. Community Bank N.A. grew its holdings in Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after purchasing an additional 38 shares during the last quarter. Holistic Financial Partners raised its position in shares of Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares during the period. Sherrill & Hutchins Financial Advisory Inc boosted its holdings in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the period. Finally, Altman Advisors Inc. grew its stake in Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TSLA shares. Barclays boosted their price objective on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Glj Research restated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Friday, January 3rd. Wells Fargo & Company raised their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $295.69.

Tesla Stock Performance

Shares of TSLA traded up $0.58 during trading hours on Wednesday, hitting $394.94. The company had a trading volume of 72,816,797 shares, compared to its average volume of 87,822,344. The business has a fifty day moving average of $368.03 and a 200-day moving average of $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 firm has a market cap of $1.27 trillion, a price-to-earnings ratio of 108.20, a PEG 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 announced its 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. The company had revenue of $25.18 billion for 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 firm’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 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 514,886 shares of company stock worth $169,393,831. Company insiders own 20.70% of the company’s stock.

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.