Wealth Enhancement Advisory Services LLC Buys 59,847 Shares of Tesla, Inc. $TSLA

Wealth Enhancement Advisory Services LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 15.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 451,646 shares of the electric vehicle producer’s stock after purchasing an additional 59,847 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Tesla were worth $195,226,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TSLA. Vanguard Group Inc. lifted its position in shares of Tesla by 0.4% in the third quarter. Vanguard Group Inc. now owns 252,386,304 shares of the electric vehicle producer’s stock worth $112,241,237,000 after buying an additional 995,623 shares in the last quarter. State Street Corp grew its holdings in Tesla by 0.3% during the 3rd quarter. State Street Corp now owns 113,762,849 shares of the electric vehicle producer’s stock valued at $50,592,614,000 after buying an additional 344,162 shares in the last quarter. Capital World Investors increased its stake in Tesla by 5.8% in the 3rd quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock worth $19,583,547,000 after acquiring an additional 2,403,019 shares during the last quarter. Norges Bank purchased a new stake in shares of Tesla during the 2nd quarter worth approximately $11,839,824,000. Finally, Amundi raised its holdings in shares of Tesla by 20.4% during the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock worth $6,374,284,000 after acquiring an additional 3,422,270 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 3.2%

Shares of TSLA opened at $367.96 on Monday. The company has a quick ratio of 1.77, a current ratio of 2.16 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $414.76 and a 200 day moving average of $427.84. The company has a market cap of $1.38 trillion, a PE ratio of 340.70, a P/E/G ratio of 10.88 and a beta of 1.89. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05. The business had revenue of $24.90 billion for the quarter, compared to the consensus estimate of $24.75 billion. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,264 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $397.03, for a total transaction of $898,875.92. Following the completion of the transaction, the chief financial officer owned 18,106 shares in the company, valued at $7,188,625.18. The trade was a 11.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $445.40, for a total value of $26,724,000.00. Following the completion of the sale, the director owned 577,031 shares in the company, valued at approximately $257,009,607.40. The trade was a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 87,995 shares of company stock worth $38,315,650. Insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TSLA. Cantor Fitzgerald reissued an “overweight” rating and issued a $510.00 target price on shares of Tesla in a report on Thursday, January 29th. UBS Group upped their price target on shares of Tesla from $307.00 to $352.00 and gave the company a “sell” rating in a research note on Thursday, January 29th. Truist Financial lowered their price objective on shares of Tesla from $439.00 to $438.00 and set a “hold” rating for the company in a research report on Thursday, January 29th. William Blair restated a “market perform” rating on shares of Tesla in a report on Friday, January 2nd. Finally, President Capital decreased their target price on shares of Tesla from $517.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Nineteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $406.84.

Read Our Latest Stock Report on Tesla

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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