Whalen Wealth Management Inc. Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Whalen Wealth Management Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 14.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,268 shares of the electric vehicle producer’s stock after buying an additional 550 shares during the period. Tesla comprises 0.8% of Whalen Wealth Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Whalen Wealth Management Inc.’s holdings in Tesla were worth $1,117,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the 3rd quarter worth approximately $29,000. Bank & Trust Co purchased a new stake in Tesla in the second quarter worth $25,000. Clean Yield Group lifted its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of 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. Finally, Valley Wealth Managers Inc. purchased a new stake in Tesla in the 2nd quarter worth about $26,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research reports. Stifel Nicolaus lifted their target price on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America boosted their target price on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group lifted their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $230.18.

Tesla Trading Up 5.6 %

Shares of TSLA stock opened at $338.74 on Tuesday. The business has a 50-day moving average of $254.75 and a 200 day moving average of $222.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The stock has a market capitalization of $1.09 trillion, a PE ratio of 92.81, a P/E/G ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the business earned $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $36,761,200. This represents 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 Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock valued at $57,616,781 in the last quarter. Insiders own 20.70% of the company’s stock.

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.