Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Biltmore Wealth Management LLC

Biltmore Wealth Management LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,772 shares of the electric vehicle producer’s stock after acquiring an additional 99 shares during the quarter. Tesla comprises about 0.6% of Biltmore Wealth Management LLC’s portfolio, making the stock its 19th largest position. Biltmore Wealth Management LLC’s holdings in Tesla were worth $1,523,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Abich Financial Wealth Management LLC lifted its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the 3rd quarter valued at about $29,000. Clean Yield Group lifted its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the 3rd quarter valued at about $35,000. Finally, M&R Capital Management Inc. lifted its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TSLA. Barclays boosted their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. Wedbush reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Wells Fargo & Company upped their price target on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald upped their price target on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $299.33.

Tesla Trading Up 8.0 %

Shares of Tesla stock opened at $428.22 on Thursday. The firm has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 117.32, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a 50 day moving average of $382.71 and a 200 day moving average of $284.69.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the 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 sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the 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 completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock worth $213,451,751 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

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.