GC Wealth Management RIA LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

GC Wealth Management RIA LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the fourth quarter, HoldingsChannel reports. The firm owned 3,764 shares of the electric vehicle producer’s stock after buying an additional 104 shares during the period. GC Wealth Management RIA LLC’s holdings in Tesla were worth $1,520,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Swedbank AB increased its stake in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after buying an additional 29,669 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the last quarter. United Bank bought a new stake in shares of Tesla in the third quarter worth $287,000. XML Financial LLC increased its stake in shares of Tesla by 1.0% in the third quarter. XML Financial LLC now owns 6,023 shares of the electric vehicle producer’s stock worth $1,576,000 after buying an additional 59 shares during the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in shares of Tesla in the third quarter worth $29,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $222.15 on Tuesday. The company has a market capitalization of $714.55 billion, a P/E ratio of 108.90, a PEG ratio of 5.86 and a beta of 2.50. The company has a 50-day simple moving average of $363.87 and a 200 day simple moving average of $319.46. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two 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.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 422,452 shares of company stock worth $153,659,530. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Wedbush restated an “outperform” rating and issued a $550.00 price target on shares of Tesla in a research note on Friday. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Morgan Stanley reaffirmed a “top pick” rating and issued a $430.00 price objective on shares of Tesla in a report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $326.31.

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.