Wesbanco Bank Inc. Acquires 1,037 Shares of Tesla, Inc. (NASDAQ:TSLA)

Wesbanco Bank Inc. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,111 shares of the electric vehicle producer’s stock after purchasing an additional 1,037 shares during the quarter. Wesbanco Bank Inc.’s holdings in Tesla were worth $12,564,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in Tesla during the 3rd quarter worth about $29,000. Clean Yield Group grew 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 worth $33,000 after buying an additional 48 shares during the period. Peterson Financial Group Inc. bought a new stake in shares of Tesla during the third quarter worth approximately $35,000. M&R Capital Management Inc. lifted its holdings in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the period. Finally, Finley Financial LLC bought a new position in Tesla in the fourth quarter valued at approximately $64,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $406.58 on Friday. The firm has a market cap of $1.31 trillion, a PE ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 12-month low of $138.80 and a 12-month 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. The company’s 50 day moving average price is $397.11 and its two-hundred day moving average price is $292.97.

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, 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 business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the business posted $0.53 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TSLA shares. Cantor Fitzgerald increased their price target on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group raised their target price on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research note on Monday, January 6th. Finally, Royal Bank of Canada upped their target price on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $313.84.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. The trade was a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock worth $212,451,751 in the last ninety days. 20.70% of the stock is owned by insiders.

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.