Elmwood Wealth Management Inc. Purchases New Shares in Tesla, Inc. $TSLA

Elmwood Wealth Management Inc. purchased a new position in Tesla, Inc. (NASDAQ:TSLAFree Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,143 shares of the electric vehicle producer’s stock, valued at approximately $953,000.

Several other hedge funds also recently bought and sold shares of TSLA. Manning & Napier Advisors LLC purchased a new position in shares of Tesla during the third quarter worth approximately $29,000. Westend Capital Management LLC purchased a new position in Tesla in the third quarter valued at about $32,000. Chapman Financial Group LLC purchased a new position in shares of Tesla in the 2nd quarter worth approximately $26,000. LGT Financial Advisors LLC bought a new position in shares of Tesla during the 2nd quarter worth approximately $29,000. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla during the second quarter valued at approximately $30,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on TSLA shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a report on Thursday, January 29th. Evercore boosted their price target on Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Wells Fargo & Company decreased their price objective on shares of Tesla from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Thursday, January 29th. Bank of America boosted their target price on shares of Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $405.00 price target on shares of Tesla in a report on Thursday, January 29th. Seventeen investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $403.92.

View Our Latest Research Report on Tesla

Trending Headlines about Tesla

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Tesla Price Performance

Shares of TSLA opened at $428.26 on Thursday. The business’s 50-day moving average is $445.74 and its two-hundred day moving average is $413.37. The company has a market capitalization of $1.61 trillion, a P/E ratio of 396.54, a P/E/G ratio of 14.24 and a beta of 1.86. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $498.83. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $24.90 billion for the quarter, compared to the consensus estimate of $24.75 billion. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the sale, the director owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This trade represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $445.40, for a total transaction of $26,724,000.00. Following the completion of the transaction, the director owned 577,031 shares of the company’s stock, valued at approximately $257,009,607.40. This represents a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 119,457 shares of company stock worth $53,501,145. Corporate insiders own 19.90% of the company’s stock.

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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