WPWealth LLP Acquires Shares of 534 Tesla, Inc. (NASDAQ:TSLA)

WPWealth LLP bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 534 shares of the electric vehicle producer’s stock, valued at approximately $216,000.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares during the period. McIlrath & Eck LLC increased its stake in shares of Tesla by 6.0% during the third quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer’s stock worth $890,000 after purchasing an additional 192 shares during the period. Advisory Resource Group lifted its holdings in Tesla by 1.2% during the 3rd quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer’s stock worth $1,115,000 after purchasing an additional 50 shares during the last quarter. Morse Asset Management Inc boosted its stake in Tesla by 46.0% in the 3rd quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer’s stock valued at $2,279,000 after purchasing an additional 2,743 shares during the period. Finally, SkyView Investment Advisors LLC grew its holdings in Tesla by 31.4% in the 3rd quarter. SkyView Investment Advisors LLC now owns 5,579 shares of the electric vehicle producer’s stock valued at $1,460,000 after buying an additional 1,334 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 0.2 %

Shares of NASDAQ TSLA opened at $241.17 on Monday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company’s 50 day moving average price is $273.93 and its 200-day moving average price is $323.29. The company has a market capitalization of $775.71 billion, a P/E ratio of 118.22, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft dropped their target price on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Mizuho cut their price objective on shares of Tesla from $430.00 to $375.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. Truist Financial decreased their target price on shares of Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Finally, Wells Fargo & Company reduced their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Nine analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $292.18.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock valued at $123,791,123 over the last ninety days. 20.70% of the stock is owned by corporate insiders.

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.