Wesbanco Bank Inc. Purchases 1,159 Shares of Tesla, Inc. $TSLA

Wesbanco Bank Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,147 shares of the electric vehicle producer’s stock after acquiring an additional 1,159 shares during the period. Wesbanco Bank Inc.’s holdings in Tesla were worth $18,153,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tesla by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer’s stock worth $9,908,828,000 after acquiring an additional 158,697 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after purchasing an additional 849,091 shares during the period. Finally, Amundi lifted its position in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,606 shares of company stock worth $51,999,662 over the last three months. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TSLA shares. Royal Bank Of Canada reaffirmed an “overweight” rating on shares of Tesla in a research report on Tuesday, July 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Glj Research reaffirmed a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Finally, HSBC reaffirmed a “reduce” rating and issued a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $303.00.

Tesla Trading Up 7.4%

Shares of NASDAQ TSLA opened at $395.94 on Friday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The stock has a market cap of $1.28 trillion, a P/E ratio of 228.87, a price-to-earnings-growth ratio of 12.87 and a beta of 2.06. The firm has a 50-day moving average of $328.89 and a 200 day moving average of $303.57. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business’s revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 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.