Momentous Wealth Management Inc. Buys New Position in Tesla, Inc. (NASDAQ:TSLA)

Momentous Wealth Management Inc. bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 639 shares of the electric vehicle producer’s stock, valued at approximately $258,000.

Several other large investors have also made changes to their positions in TSLA. Vanguard Group Inc. boosted its stake in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after buying an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after purchasing an additional 1,022,589 shares during the last quarter. FMR LLC lifted its holdings in shares of Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after acquiring an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Tesla by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock worth $6,996,871,000 after purchasing an additional 780,026 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,228 shares of company stock valued at $166,849,043. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. Robert W. Baird lowered their price target on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Royal Bank of Canada lowered their price objective on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Truist Financial raised their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Finally, Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $318.93.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $278.39 on Tuesday. The business has a fifty day simple moving average of $332.69 and a 200 day simple moving average of $321.49. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $895.45 billion, a price-to-earnings ratio of 136.47, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS 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.