National Wealth Management Group LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

National Wealth Management Group LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,470 shares of the electric vehicle producer’s stock after acquiring an additional 1,545 shares during the period. Tesla comprises 1.7% of National Wealth Management Group LLC’s investment portfolio, making the stock its 15th biggest holding. National Wealth Management Group LLC’s holdings in Tesla were worth $2,613,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GFI Investment Counsel Ltd. purchased a new stake in Tesla during the fourth quarter worth approximately $254,000. Nemes Rush Group LLC raised its holdings in Tesla by 41.4% during the fourth quarter. Nemes Rush Group LLC now owns 16,131 shares of the electric vehicle producer’s stock worth $6,514,000 after purchasing an additional 4,723 shares in the last quarter. StoneX Group Inc. lifted its position in shares of Tesla by 0.3% during the 4th quarter. StoneX Group Inc. now owns 18,975 shares of the electric vehicle producer’s stock worth $7,663,000 after buying an additional 57 shares during the last quarter. Mosaic Financial Group LLC acquired a new position in shares of Tesla in the 4th quarter valued at $218,000. Finally, HighPoint Advisor Group LLC grew its position in shares of Tesla by 0.5% in the 4th quarter. HighPoint Advisor Group LLC now owns 96,610 shares of the electric vehicle producer’s stock valued at $39,015,000 after buying an additional 459 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA stock opened at $259.16 on Tuesday. The stock has a market cap of $833.59 billion, a PE ratio of 127.04, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a fifty day moving average price of $317.98 and a 200 day moving average price of $323.21. 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 (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 return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction 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 sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Glj Research reissued a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and upped their target price for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Benchmark assumed coverage on Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target on the stock. Evercore ISI boosted their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Finally, Bank of America cut their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $317.75.

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.