Wingate Wealth Advisors Inc. Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Wingate Wealth Advisors Inc. purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 406 shares of the electric vehicle producer’s stock, valued at approximately $164,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter worth approximately $29,000. Peterson Financial Group Inc. purchased a new position in Tesla in the 3rd quarter worth approximately $35,000. Finley Financial LLC bought a new position in Tesla in the 4th quarter valued at approximately $64,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in shares of Tesla in the 4th quarter worth $91,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 5.8 %

Shares of TSLA opened at $355.94 on Friday. The firm has a market cap of $1.14 trillion, a P/E ratio of 174.48, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a 50 day simple moving average of $407.25 and a two-hundred day simple moving average of $306.44.

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

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % 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 insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TSLA shares. The Goldman Sachs Group upped their price target on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Piper Sandler raised their price target on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a report on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $440.00 target price on shares of Tesla in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $326.50.

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.