Whitaker Myers Wealth Managers LTD. Grows Holdings in Tesla, Inc. (NASDAQ:TSLA)

Whitaker Myers Wealth Managers LTD. increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,529 shares of the electric vehicle producer’s stock after buying an additional 183 shares during the period. Tesla accounts for approximately 0.5% of Whitaker Myers Wealth Managers LTD.’s portfolio, making the stock its 24th largest holding. Whitaker Myers Wealth Managers LTD.’s holdings in Tesla were worth $1,829,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the third quarter worth $29,000. Clean Yield Group raised its position in Tesla by 60.0% in the 3rd 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 lifted its position in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter valued at about $35,000. Finally, M&R Capital Management Inc. increased its stake in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock valued at $213,451,751 over the last three months. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Evercore ISI upped their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Robert W. Baird raised their target price on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and upped their price target for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $299.33.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $426.50 on Tuesday. The firm has a market capitalization of $1.37 trillion, a PE ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The business has a 50-day moving average of $389.94 and a two-hundred day moving average of $288.78.

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

About Tesla

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.