Wambolt & Associates LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Wambolt & Associates LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.6% in the 4th quarter, HoldingsChannel reports. The firm owned 2,772 shares of the electric vehicle producer’s stock after buying an additional 172 shares during the quarter. Wambolt & Associates LLC’s holdings in Tesla were worth $1,119,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. World Investment Advisors LLC boosted its stake in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Destination Wealth Management raised its position in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after buying an additional 1,359 shares during the last quarter. Stephens Consulting LLC lifted its stake in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares during the period. Vinva Investment Management Ltd boosted its position in Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC raised its holdings in Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $278.39 on Tuesday. The stock’s 50 day moving average price is $332.69 and its 200 day moving average price is $321.49. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market cap of $895.45 billion, a price-to-earnings ratio of 136.47, a PEG ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their target price for the company from $180.00 to $388.00 in a report on Friday, March 7th. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Royal Bank of Canada lowered their price objective on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Finally, StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $318.93.

Tesla Company 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.