WealthTrak Capital Management LLC Invests $188,000 in Tesla, Inc. (NASDAQ:TSLA)

WealthTrak Capital Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 466 shares of the electric vehicle producer’s stock, valued at approximately $188,000.

Several other large investors have also recently added to or reduced their stakes in the stock. World Investment Advisors LLC raised its holdings in shares of Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares during the period. Destination Wealth Management raised its stake in shares of Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares during the period. Stephens Consulting LLC lifted its position in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after purchasing an additional 891 shares in the last quarter. MML Investors Services LLC grew its holdings in Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after buying an additional 2,511,488 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 3.5 %

TSLA opened at $263.55 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock’s 50 day moving average price is $321.33 and its 200 day moving average price is $321.68. The stock has a market cap of $847.71 billion, a P/E ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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%. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Cowen raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Finally, Wedbush reiterated an “outperform” rating and set a $550.00 price objective on shares of Tesla in a research note on Thursday. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $318.34.

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.