Widmann Financial Services Inc. Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Widmann Financial Services Inc. acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,768 shares of the electric vehicle producer’s stock, valued at approximately $4,649,000. Tesla makes up approximately 3.5% of Widmann Financial Services Inc.’s portfolio, making the stock its 7th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. Connable Office Inc. raised its holdings in Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after buying an additional 38 shares during the period. Holistic Financial Partners raised its stake in shares of Tesla by 1.0% in the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after acquiring an additional 40 shares during the period. Integris Wealth Management LLC lifted its holdings in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc increased its holdings in Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares during the last quarter. Finally, Altman Advisors Inc. increased its holdings in Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after purchasing an additional 43 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA stock opened at $345.16 on Friday. The business has a 50 day simple moving average of $274.55 and a 200-day simple moving average of $231.81. The company has a market capitalization of $1.11 trillion, a P/E ratio of 94.56, a PEG ratio of 10.81 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $361.93. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the firm posted $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock valued at $92,956,692 over the last quarter. 20.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TSLA. Canaccord Genuity Group raised their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Roth Mkm reissued a “neutral” rating and set a $85.00 price target on shares of Tesla in a research report on Friday, October 11th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. UBS Group upped their target price on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. Finally, Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Thursday, October 17th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $231.06.

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.