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

Elite Wealth Management Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,202 shares of the electric vehicle producer’s stock after acquiring an additional 159 shares during the period. Tesla comprises about 0.1% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Elite Wealth Management Inc.’s holdings in Tesla were worth $1,541,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TSLA. MidWestOne Financial Group Inc. lifted its stake in shares of Tesla by 3.3% in the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after purchasing an additional 15 shares during the last quarter. City State Bank lifted its stake in shares of Tesla by 3.3% in the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock valued at $315,000 after purchasing an additional 40 shares during the last quarter. Linscomb & Williams Inc. lifted its stake in shares of Tesla by 3.5% in the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock valued at $1,329,000 after purchasing an additional 42 shares during the last quarter. Opal Wealth Advisors LLC lifted its stake in shares of Tesla by 1.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after purchasing an additional 42 shares during the last quarter. Finally, Holderness Investments Co. lifted its stake in shares of Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 20.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company cut their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. Mizuho reissued a “neutral” rating and set a $195.00 target price (down previously from $270.00) on shares of Tesla in a research report on Monday, March 25th. Morgan Stanley cut their target price on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Tesla from $200.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Finally, UBS Group cut their target price on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $198.81.

Tesla Price Performance

Tesla stock traded down $1.40 during trading hours on Wednesday, hitting $155.71. 44,304,383 shares of the stock were exchanged, compared to its average volume of 101,372,797. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock has a market capitalization of $495.90 billion, a P/E ratio of 35.90, a P/E/G ratio of 4.25 and a beta of 2.39. Tesla, Inc. has a 12 month low of $152.37 and a 12 month high of $299.29. The business’s 50-day moving average is $180.88 and its two-hundred day moving average is $213.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. Tesla’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 earnings per share. Equities research analysts expect that Tesla, Inc. will post 1.98 EPS for the current fiscal year.

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.