National Wealth Management Group LLC Has $2.61 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

National Wealth Management Group LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 31.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,470 shares of the electric vehicle producer's stock after acquiring an additional 1,545 shares during the quarter. Tesla accounts for 1.7% of National Wealth Management Group LLC's portfolio, making the stock its 15th largest position. National Wealth Management Group LLC's holdings in Tesla were worth $2,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock worth $955,052,000 after acquiring an additional 194,796 shares during the last quarter. United Bank bought a new stake in shares of Tesla during the third quarter worth $287,000. Quantbot Technologies LP acquired a new stake in shares of Tesla in the third quarter valued at $687,000. Cobblestone Capital Advisors LLC NY bought a new position in shares of Tesla in the third quarter valued at about $246,000. Finally, Kestra Investment Management LLC acquired a new position in Tesla during the 3rd quarter worth about $875,000. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TSLA. Benchmark assumed coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a "buy" rating and a $475.00 target price for the company. Stifel Nicolaus dropped their price objective on shares of Tesla from $474.00 to $455.00 and set a "buy" rating for the company in a research report on Monday. Guggenheim decreased their price objective on Tesla from $175.00 to $170.00 and set a "sell" rating on the stock in a research report on Wednesday, March 12th. Robert W. Baird dropped their target price on Tesla from $440.00 to $370.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Monday, February 10th. Nine research analysts have rated the stock with a sell rating, eight have issued 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 data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $317.75.

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Tesla Stock Up 3.6 %

Shares of NASDAQ:TSLA traded up $9.30 during midday trading on Tuesday, reaching $268.46. 145,757,545 shares of the company were exchanged, compared to its average volume of 93,639,188. The firm has a market cap of $863.51 billion, a PE ratio of 131.60, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock has a fifty day simple moving average of $314.87 and a two-hundred day simple moving average of $323.48.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company's stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 in the last quarter. 20.70% of the stock is currently owned by insiders.

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.