Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Biltmore Wealth Management LLC

Biltmore Wealth Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.7% during the 4th quarter, Holdings Channel reports. The fund owned 3,772 shares of the electric vehicle producer’s stock after purchasing an additional 99 shares during the quarter. Tesla makes up approximately 0.6% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Biltmore Wealth Management LLC’s holdings in Tesla were worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TSLA. International Assets Investment Management LLC raised its stake in Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP raised its stake in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TSLA. Truist Financial reaffirmed a “hold” rating and set a $360.00 price objective on shares of Tesla in a report on Thursday, January 2nd. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Finally, StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $299.33.

Tesla Price Performance

TSLA stock opened at $428.22 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market cap of $1.37 trillion, a price-to-earnings ratio of 117.32, a PEG ratio of 10.80 and a beta of 2.30. The firm has a 50 day moving average of $382.71 and a 200-day moving average of $284.69.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the firm posted $0.53 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal 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 that occurred on Friday, November 1st. The stock was 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 directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 in the last ninety days. Insiders own 20.70% of the company’s stock.

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.