Wrapmanager Inc. Has $4.39 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Wrapmanager Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,865 shares of the electric vehicle producer’s stock after purchasing an additional 403 shares during the quarter. Tesla accounts for about 1.1% of Wrapmanager Inc.’s portfolio, making the stock its 24th biggest position. Wrapmanager Inc.’s holdings in Tesla were worth $4,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Transcendent Capital Group LLC bought a new position in Tesla during the 3rd quarter valued at $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla during the fourth quarter valued at about $46,000. PayPay Securities Corp boosted its holdings in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after purchasing an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TSLA. Stifel Nicolaus dropped their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Mizuho reaffirmed an “outperform” rating and set a $515.00 price target on shares of Tesla in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Finally, Guggenheim reissued a “sell” rating on shares of Tesla in a report on Tuesday. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $319.57.

Tesla Price Performance

Tesla stock opened at $290.80 on Thursday. The business has a 50-day simple moving average of $390.99 and a 200 day simple moving average of $315.51. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market cap of $935.36 billion, a price-to-earnings ratio of 142.55, a PEG ratio of 5.86 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 in the last quarter. Insiders own 20.70% of the company’s stock.

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.