Wedmont Private Capital Has $15.92 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wedmont Private Capital raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 40,323 shares of the electric vehicle producer’s stock after purchasing an additional 1,216 shares during the quarter. Tesla makes up approximately 0.8% of Wedmont Private Capital’s investment portfolio, making the stock its 21st largest holding. Wedmont Private Capital’s holdings in Tesla were worth $15,917,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. World Investment Advisors LLC increased its holdings in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares in the last quarter. Destination Wealth Management increased its stake in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd boosted its stake 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 in the last quarter. MML Investors Services LLC grew its holdings in Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after purchasing an additional 1,741 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock valued at $213,451,751 in the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock traded down $0.49 during trading on Monday, hitting $394.25. 46,424,762 shares of the stock traded hands, compared to its average volume of 78,109,430. The firm’s fifty day moving average is $376.60 and its 200-day moving average is $281.84. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 108.01, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. Research analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TSLA. Guggenheim boosted their target price on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research report on Thursday, December 5th. Cantor Fitzgerald upped their target price on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Piper Sandler upped their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Canaccord Genuity Group lifted their price objective on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $296.60.

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.