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

National Wealth Management Group LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 92.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,925 shares of the electric vehicle producer’s stock after acquiring an additional 2,371 shares during the quarter. Tesla accounts for about 0.9% of National Wealth Management Group LLC’s investment portfolio, making the stock its 29th largest holding. National Wealth Management Group LLC’s holdings in Tesla were worth $1,289,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. increased its holdings in shares of Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management increased its holdings in shares of Tesla by 109.6% in the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after acquiring an additional 4,929 shares in the last quarter. Savvy Advisors Inc. increased its holdings in shares of Tesla by 24.2% in the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after acquiring an additional 1,467 shares in the last quarter. Blackhawk Capital Partners LLC. increased its holdings in shares of Tesla by 102.0% in the third quarter. Blackhawk Capital Partners LLC. now owns 5,598 shares of the electric vehicle producer’s stock worth $1,465,000 after acquiring an additional 2,827 shares in the last quarter. Finally, West Family Investments Inc. increased its holdings in shares of Tesla by 20.8% in the third quarter. West Family Investments Inc. now owns 9,026 shares of the electric vehicle producer’s stock worth $2,361,000 after acquiring an additional 1,556 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock valued at $92,956,692 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $332.89 on Thursday. The stock has a market cap of $1.07 trillion, a P/E ratio of 91.20, a PEG ratio of 11.00 and a beta of 2.29. The stock has a 50 day simple moving average of $270.63 and a 200 day simple moving average of $229.89. 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 1-year low of $138.80 and a 1-year high of $361.93.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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 business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.53 EPS. Research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Truist Financial increased their price target on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Wedbush reiterated an “outperform” rating and set a $400.00 price objective on shares of Tesla in a report on Monday, November 18th. Robert W. Baird reiterated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. William Blair initiated coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Finally, StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $231.06.

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.