BNC Wealth Management LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 2.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 40,946 shares of the electric vehicle producer’s stock after buying an additional 843 shares during the period. Tesla comprises 5.4% of BNC Wealth Management LLC’s portfolio, making the stock its 4th biggest holding. BNC Wealth Management LLC’s holdings in Tesla were worth $16,536,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Sandy Cove Advisors LLC raised its stake in Tesla by 33.1% in the 4th quarter. Sandy Cove Advisors LLC now owns 1,383 shares of the electric vehicle producer’s stock valued at $558,000 after purchasing an additional 344 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its holdings in shares of Tesla by 4.1% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 6,668 shares of the electric vehicle producer’s stock worth $2,693,000 after buying an additional 260 shares in the last quarter. Riversedge Advisors LLC raised its position in shares of Tesla by 32.7% in the fourth quarter. Riversedge Advisors LLC now owns 1,051 shares of the electric vehicle producer’s stock valued at $424,000 after buying an additional 259 shares during the last quarter. Veery Capital LLC lifted its stake in shares of Tesla by 86.8% in the fourth quarter. Veery Capital LLC now owns 2,441 shares of the electric vehicle producer’s stock worth $986,000 after buying an additional 1,134 shares in the last quarter. Finally, Udine Wealth Management Inc. boosted its position in Tesla by 3.6% during the fourth quarter. Udine Wealth Management Inc. now owns 9,833 shares of the electric vehicle producer’s stock worth $3,971,000 after acquiring an additional 338 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.
Tesla Trading Up 3.1 %
Shares of TSLA stock opened at $426.50 on Tuesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $389.94 and its two-hundred day moving average is $288.78. The company has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30.
Insider Activity
In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock valued at $213,451,751 in the last three months. 20.70% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
TSLA has been the topic of a number of research reports. Truist Financial reissued a “hold” rating and issued a $360.00 target price on shares of Tesla in a research note on Thursday, January 2nd. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Stifel Nicolaus upped their target price on Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a report on Monday, January 6th. Canaccord Genuity Group lifted their price target on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a report on Monday, November 18th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $299.33.
Get Our Latest Research Report on TSLA
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.
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