Modern Wealth Management LLC Boosts Stock Position in Tesla, Inc. $TSLA

Modern Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 21.7% during the third quarter, Holdings Channel reports. The firm owned 24,951 shares of the electric vehicle producer’s stock after acquiring an additional 4,451 shares during the period. Modern Wealth Management LLC’s holdings in Tesla were worth $11,096,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Relyea Zuckerberg Hanson LLC increased its holdings in Tesla by 0.4% in the 3rd quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock worth $2,916,000 after buying an additional 23 shares during the period. Equita Financial Network Inc. boosted its holdings in shares of Tesla by 2.8% in the 3rd quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock valued at $380,000 after acquiring an additional 23 shares during the last quarter. VanderPol Investments L.L.C. boosted its holdings in shares of Tesla by 2.2% in the 3rd quarter. VanderPol Investments L.L.C. now owns 1,070 shares of the electric vehicle producer’s stock valued at $464,000 after acquiring an additional 23 shares during the last quarter. Resonant Capital Advisors LLC increased its stake in shares of Tesla by 0.3% in the third quarter. Resonant Capital Advisors LLC now owns 8,577 shares of the electric vehicle producer’s stock worth $3,814,000 after acquiring an additional 23 shares during the period. Finally, Cloud Capital Management LLC raised its holdings in shares of Tesla by 1.1% during the third quarter. Cloud Capital Management LLC now owns 2,076 shares of the electric vehicle producer’s stock worth $923,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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Tesla Price Performance

Tesla stock opened at $396.73 on Friday. The stock has a market capitalization of $1.49 trillion, a P/E ratio of 367.34, a P/E/G ratio of 11.99 and a beta of 1.89. The company’s fifty day moving average price is $425.17 and its 200 day moving average price is $422.66. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business had revenue of $24.90 billion for the quarter, compared to the consensus estimate of $24.75 billion. During the same period last year, the firm posted $0.73 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. As a group, 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 subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research note on Thursday, January 29th. Tigress Financial initiated coverage on Tesla in a report on Thursday, February 12th. They set a “buy” rating and a $550.00 target price on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tesla in a research report on Tuesday, January 27th. Mizuho set a $540.00 price target on Tesla and gave the company an “outperform” rating in a report on Thursday, January 29th. Finally, President Capital dropped their price objective on shares of Tesla from $517.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $406.84.

View Our Latest Stock Report on Tesla

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $445.40, for a total value of $26,724,000.00. Following the transaction, the director directly owned 577,031 shares of the company’s stock, valued at approximately $257,009,607.40. This trade represents a 9.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares in the company, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 145,188 shares of company stock valued at $64,193,919. 19.90% of the stock is owned by corporate insiders.

Tesla 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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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