Angeles Wealth Management LLC Buys 605 Shares of Tesla, Inc. (NASDAQ:TSLA)

Angeles Wealth Management LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,399 shares of the electric vehicle producer’s stock after acquiring an additional 605 shares during the period. Angeles Wealth Management LLC’s holdings in Tesla were worth $3,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TSLA. Wedge Capital Management L L P NC raised its stake in shares of Tesla by 18.2% in the third quarter. Wedge Capital Management L L P NC now owns 2,489 shares of the electric vehicle producer’s stock worth $651,000 after acquiring an additional 384 shares during the last quarter. Creative Planning raised its stake in shares of Tesla by 28.3% during the third quarter. Creative Planning now owns 896,484 shares of the electric vehicle producer’s stock worth $221,677,000 after buying an additional 197,839 shares during the last quarter. Swedbank AB raised its stake in shares of Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after buying an additional 29,669 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Tesla by 19.0% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,700 shares of the electric vehicle producer’s stock worth $3,584,000 after buying an additional 2,190 shares during the last quarter. Finally, Wolff Wiese Magana LLC raised its stake in shares of Tesla by 59.9% during the third quarter. Wolff Wiese Magana LLC now owns 3,135 shares of the electric vehicle producer’s stock worth $820,000 after buying an additional 1,175 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent research reports. Evercore ISI boosted their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Wells Fargo & Company boosted their price target on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, January 30th. UBS Group boosted their price target on shares of Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research note on Thursday, January 30th. Piper Sandler boosted their price target on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued 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 price target of $326.50.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA opened at $355.94 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a fifty day simple moving average of $407.25 and a 200 day simple moving average of $306.44. The stock has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 174.48, a PEG ratio of 6.22 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Research analysts forecast that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

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.