Chicago Wealth Management Inc. Acquires 75 Shares of Tesla, Inc. (NASDAQ:TSLA)

Chicago Wealth Management Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,128 shares of the electric vehicle producer’s stock after purchasing an additional 75 shares during the period. Tesla accounts for about 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $46,000. Parkworth Wealth Management Inc. bought a new position in Tesla in the 4th quarter worth approximately $47,000. PayPay Securities Corp lifted its holdings in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new position in Tesla in the 4th quarter valued at $55,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TSLA shares. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Stifel Nicolaus lowered their target price on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Bank of America lowered their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Finally, Evercore ISI lifted their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $326.43.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 422,452 shares of company stock worth $153,659,530. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $230.58 on Wednesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market cap of $741.66 billion, a price-to-earnings ratio of 113.03, a PEG ratio of 5.86 and a beta of 2.50. The business has a 50-day simple moving average of $360.40 and a two-hundred day simple moving average of $319.53.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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 net margin of 7.26% and a return on equity of 10.31%. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.