Baker Tilly Wealth Management LLC Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Baker Tilly Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,626 shares of the electric vehicle producer’s stock after purchasing an additional 648 shares during the period. Tesla makes up 1.8% of Baker Tilly Wealth Management LLC’s holdings, making the stock its 11th largest position. Baker Tilly Wealth Management LLC’s holdings in Tesla were worth $4,695,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC boosted its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the 3rd quarter worth approximately $29,000. Clean Yield Group increased its holdings in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in Tesla during the third quarter worth $35,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TSLA shares. Wells Fargo & Company upped their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Barclays upped their price objective on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Cantor Fitzgerald lifted their target price on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Royal Bank of Canada raised their price target on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Finally, Guggenheim increased their target price on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a report on Thursday, December 5th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $295.69.

Tesla Trading Down 0.6 %

Tesla stock traded down $2.38 during midday trading on Friday, reaching $392.56. The stock had a trading volume of 24,011,059 shares, compared to its average volume of 76,669,305. The firm’s fifty day simple moving average is $373.68 and its two-hundred day simple moving average is $279.12. The firm has a market cap of $1.26 trillion, a price-to-earnings ratio of 107.55, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. 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 data 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 analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 in the last 90 days. 20.70% of the stock is owned by company insiders.

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.