Wrapmanager Inc. Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Wrapmanager Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,462 shares of the electric vehicle producer’s stock after acquiring an additional 1,569 shares during the period. Wrapmanager Inc.’s holdings in Tesla were worth $2,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. Bank & Trust Co purchased a new stake in Tesla during the second quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Tesla during the third quarter valued at approximately $29,000. Finally, Clean Yield Group increased its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on TSLA. Wolfe Research began coverage on Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Truist Financial boosted their price objective on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Wedbush restated an “outperform” rating and set a $400.00 target price on shares of Tesla in a research note on Monday. Barclays lifted their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group increased their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Stock Performance

Tesla stock opened at $338.74 on Tuesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The company’s 50-day moving average is $254.75 and its 200 day moving average is $222.13. The firm has a market capitalization of $1.09 trillion, a P/E ratio of 92.81, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during 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%. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. Research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

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.