M Wealth Management LLC Acquires Shares of 880 Tesla, Inc. (NASDAQ:TSLA)

M Wealth Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 880 shares of the electric vehicle producer’s stock, valued at approximately $355,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hengehold Capital Management LLC raised its position in shares of Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after acquiring an additional 24 shares in the last quarter. Strategic Investment Advisors MI grew its stake in shares of Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after buying an additional 24 shares during the period. Acropolis Investment Management LLC grew its stake in shares of Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD boosted its stake in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares during the last quarter. Finally, Prospect Financial Services LLC boosted its stake in Tesla by 0.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after purchasing an additional 26 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TSLA shares. Deutsche Bank Aktiengesellschaft boosted their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Wedbush increased their target price on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $318.31.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $31,548,461.84. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 553,386 shares of company stock valued at $196,305,796 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Up 1.1 %

TSLA stock opened at $404.60 on Monday. The company has a market cap of $1.30 trillion, a price-to-earnings ratio of 198.33, a price-to-earnings-growth ratio of 8.08 and a beta of 2.30. 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 12 month low of $138.80 and a 12 month high of $488.54. The company has a fifty day moving average price of $404.22 and a 200 day moving average price of $299.34.

Tesla (NASDAQ:TSLA) last posted 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 10.54% and a net margin of 7.26%. Sell-side analysts expect that Tesla, Inc. will post 2.82 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.