WT Wealth Management Acquires 5,972 Shares of Tesla, Inc. $TSLA

WT Wealth Management increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 178.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,313 shares of the electric vehicle producer’s stock after buying an additional 5,972 shares during the period. WT Wealth Management’s holdings in Tesla were worth $2,958,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Chapman Financial Group LLC purchased a new position in shares of Tesla in the second quarter valued at $26,000. Chelsea Counsel Co. lifted its holdings in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. LGT Financial Advisors LLC bought a new position in Tesla in the 2nd quarter worth about $29,000. CoreFirst Bank & Trust purchased a new position in Tesla during the 2nd quarter valued at about $30,000. Finally, ESL Trust Services LLC increased its position in shares of Tesla by 1,900.0% during the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 95 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 19.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research report on Monday, October 13th. DZ Bank reissued a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Dbs Bank raised Tesla to a “hold” rating in a research note on Wednesday, November 5th. Finally, Benchmark restated a “buy” rating on shares of Tesla in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $399.33.

Tesla Trading Up 3.6%

NASDAQ TSLA opened at $475.31 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock’s 50-day simple moving average is $435.96 and its two-hundred day simple moving average is $377.25. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 316.87, a PEG ratio of 15.50 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.