Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Smith Salley Wealth Management

Smith Salley Wealth Management raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 44.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,216 shares of the electric vehicle producer's stock after buying an additional 1,296 shares during the quarter. Smith Salley Wealth Management's holdings in Tesla were worth $1,703,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. King Luther Capital Management Corp lifted its position in Tesla by 2.8% in the 2nd quarter. King Luther Capital Management Corp now owns 6,348 shares of the electric vehicle producer's stock valued at $1,256,000 after acquiring an additional 173 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Tesla by 62.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 20,289 shares of the electric vehicle producer's stock valued at $4,015,000 after purchasing an additional 7,804 shares during the last quarter. Edge Capital Group LLC bought a new position in shares of Tesla in the second quarter valued at $522,000. Cyrus J. Lawrence LLC acquired a new position in Tesla during the second quarter worth $82,000. Finally, Commonwealth Financial Services LLC lifted its stake in Tesla by 11.2% in the second quarter. Commonwealth Financial Services LLC now owns 945 shares of the electric vehicle producer's stock valued at $187,000 after acquiring an additional 95 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of Tesla stock traded down $2.43 on Tuesday, hitting $424.07. 86,903,227 shares of the company traded hands, compared to its average volume of 82,108,117. 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 business has a 50-day simple moving average of $391.47 and a 200 day simple moving average of $290.05. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market capitalization of $1.36 trillion, a P/E ratio of 116.18, a price-to-earnings-growth ratio of 8.60 and a beta of 2.30.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 EPS. Research analysts expect that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on TSLA. Wells Fargo & Company lifted their target price on Tesla from $120.00 to $125.00 and gave the stock an "underweight" rating in a research note on Thursday, October 24th. Evercore ISI lifted their price objective on Tesla from $195.00 to $275.00 and gave the company an "in-line" rating in a report on Friday, January 3rd. Canaccord Genuity Group boosted their target price on Tesla from $298.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, Wedbush restated an "outperform" rating and set a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and an average target price of $304.94.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock worth $213,451,751 over the last three months. Corporate insiders own 20.70% of the company's stock.

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.