Wesbanco Bank Inc. Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Wesbanco Bank Inc. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 399.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,074 shares of the electric vehicle producer’s stock after acquiring an additional 24,057 shares during the quarter. Wesbanco Bank Inc.’s holdings in Tesla were worth $7,868,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TSLA. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter valued at about $25,000. Clean Yield Group lifted its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the 2nd quarter worth approximately $26,000. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $219.16 on Tuesday. The company has a market cap of $698.94 billion, a P/E ratio of 55.91, a PEG ratio of 6.48 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The business’s 50-day simple moving average is $225.84 and its 200 day simple moving average is $204.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 in the last quarter. 25.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TSLA shares. Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Truist Financial raised their target price on shares of Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Friday. Wedbush reissued an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus initiated coverage on Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price objective for the company. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $210.72.

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.