Chicago Wealth Management Inc. Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Chicago Wealth Management Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,128 shares of the electric vehicle producer’s stock after buying an additional 75 shares during the quarter. Tesla comprises approximately 0.7% of Chicago Wealth Management Inc.’s portfolio, making the stock its 26th largest position. Chicago Wealth Management Inc.’s holdings in Tesla were worth $1,263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC increased its holdings in Tesla by 18.3% in the fourth quarter. Farther Finance Advisors LLC now owns 37,329 shares of the electric vehicle producer’s stock valued at $15,075,000 after buying an additional 5,787 shares during the last quarter. Parkworth Wealth Management Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $47,000. Knuff & Co LLC purchased a new stake in shares of Tesla during the 4th quarter worth approximately $210,000. EverSource Wealth Advisors LLC boosted its stake in shares of Tesla by 0.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 73,571 shares of the electric vehicle producer’s stock worth $29,711,000 after acquiring an additional 287 shares in the last quarter. Finally, Warwick Investment Management Inc. lifted its holdings in shares of Tesla by 2.6% in the fourth quarter. Warwick Investment Management Inc. now owns 1,747 shares of the electric vehicle producer’s stock valued at $706,000 after purchasing an additional 44 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Benchmark started coverage on shares of Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $550.00 price target on shares of Tesla in a research note on Friday, March 7th. Finally, New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a report on Monday, January 6th. Nine equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $326.43.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 422,452 shares of company stock worth $153,659,530. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Up 3.8 %

Shares of TSLA opened at $230.58 on Wednesday. The company has a 50-day simple moving average of $360.40 and a 200-day simple moving average of $319.53. The firm has a market capitalization of $741.66 billion, a P/E ratio of 113.03, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

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

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.