Wealth Alliance Buys 641 Shares of Tesla, Inc. (NASDAQ:TSLA)

Wealth Alliance grew its position in Tesla, Inc. (NASDAQ:TSLA) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,870 shares of the electric vehicle producer’s stock after purchasing an additional 641 shares during the quarter. Wealth Alliance’s holdings in Tesla were worth $3,582,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in Tesla during the third quarter valued at $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the 3rd quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Tesla during the 4th quarter valued at about $46,000. PayPay Securities Corp grew its stake in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after purchasing an additional 187 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on TSLA. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a report on Monday, January 6th. Truist Financial increased their target price on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Finally, Wedbush set a $328.50 price target on Tesla in a research note on Wednesday, February 12th. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $319.57.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 over the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $337.80 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company’s 50-day moving average is $400.17 and its 200 day moving average is $313.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market capitalization of $1.09 trillion, a P/E ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its 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%. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla 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.