Wingate Wealth Advisors Inc. Acquires Shares of 406 Tesla, Inc. (NASDAQ:TSLA)

Wingate Wealth Advisors Inc. purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 406 shares of the electric vehicle producer’s stock, valued at approximately $164,000.

Other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors LLC increased its holdings in Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares during the period. Destination Wealth Management increased its stake in shares of Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after buying an additional 1,359 shares during the period. Vinva Investment Management Ltd raised its holdings in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after acquiring an additional 43,685 shares in the last quarter. Stephens Consulting LLC lifted its stake in Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after acquiring an additional 891 shares during the period. Finally, MML Investors Services LLC grew its holdings in Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after acquiring an additional 9,919 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several research reports. Canaccord Genuity Group upped their price target on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and lifted their target price for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. UBS Group increased their price target on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Piper Sandler lifted their price objective on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $326.50.

Tesla Stock Up 5.8 %

Shares of TSLA opened at $355.94 on Friday. The stock’s 50-day moving average price is $407.25 and its 200-day moving average price is $306.44. 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 company has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 174.48, a PEG ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts predict that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by company insiders.

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.