Tesla, Inc. (NASDAQ:TSLA) is BNC Wealth Management LLC's 4th Largest Position

BNC Wealth Management LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,946 shares of the electric vehicle producer's stock after purchasing an additional 843 shares during the period. Tesla accounts for 5.4% of BNC Wealth Management LLC's portfolio, making the stock its 4th largest holding. BNC Wealth Management LLC's holdings in Tesla were worth $16,536,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter valued at approximately $29,000. Clean Yield Group lifted its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock worth $26,000 after buying an additional 81 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter worth about $35,000. Finally, M&R Capital Management Inc. raised its position in shares of Tesla by 263.2% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TSLA shares. New Street Research upgraded Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Sanford C. Bernstein reiterated an "underperform" rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Canaccord Genuity Group raised their target price on shares of Tesla from $298.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, October 24th. Finally, Morgan Stanley boosted their target price on Tesla from $400.00 to $430.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of "Hold" and an average target price of $304.94.

Tesla Trading Down 0.6 %

Tesla stock traded down $2.43 during midday trading on Tuesday, hitting $424.07. 86,903,227 shares of the stock were exchanged, compared to its average volume of 82,108,117. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 116.18, a PEG ratio of 8.60 and a beta of 2.30. The stock's 50-day simple moving average is $391.47 and its 200 day simple moving average is $290.05. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The company 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 firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. 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 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock worth $213,451,751 in the last ninety days. 20.70% of the stock is owned by corporate insiders.

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.