National Wealth Management Group LLC Acquires 2,371 Shares of Tesla, Inc. (NASDAQ:TSLA)

National Wealth Management Group LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 92.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,925 shares of the electric vehicle producer’s stock after acquiring an additional 2,371 shares during the period. Tesla comprises about 0.9% of National Wealth Management Group LLC’s portfolio, making the stock its 29th biggest position. National Wealth Management Group LLC’s holdings in Tesla were worth $1,289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bell Investment Advisors Inc grew its position in Tesla by 2.4% during the 3rd quarter. Bell Investment Advisors Inc now owns 2,309 shares of the electric vehicle producer’s stock worth $604,000 after acquiring an additional 54 shares during the last quarter. True Vision MN LLC bought a new stake in Tesla during the 3rd quarter worth $522,000. CreativeOne Wealth LLC grew its position in Tesla by 22.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 37,067 shares of the electric vehicle producer’s stock worth $9,698,000 after acquiring an additional 6,678 shares during the last quarter. Glenmede Trust Co. NA grew its position in Tesla by 34.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer’s stock worth $13,317,000 after acquiring an additional 12,955 shares during the last quarter. Finally, Insight Wealth Partners LLC grew its position in Tesla by 4.9% during the 3rd quarter. Insight Wealth Partners LLC now owns 1,441 shares of the electric vehicle producer’s stock worth $377,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock valued at $92,956,692 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of a number of research reports. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research report on Wednesday, October 23rd. HSBC reaffirmed a “reduce” rating and set a $124.00 target price on shares of Tesla in a report on Friday, October 11th. William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Jefferies Financial Group lifted their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus lifted their target price on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $231.06.

Tesla Stock Performance

Shares of TSLA opened at $332.89 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a 50 day moving average price of $270.63 and a two-hundred day moving average price of $229.89. The firm has a market capitalization of $1.07 trillion, a P/E ratio of 91.20, a P/E/G ratio of 11.00 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.93.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. Equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.