Wedmont Private Capital Has $14.12 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wedmont Private Capital raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 38.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,957 shares of the electric vehicle producer's stock after acquiring an additional 15,634 shares during the period. Tesla makes up 0.7% of Wedmont Private Capital's investment portfolio, making the stock its 24th largest position. Wedmont Private Capital's holdings in Tesla were worth $14,119,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TSLA. UMB Bank n.a. increased its stake in shares of Tesla by 1.1% in the first quarter. UMB Bank n.a. now owns 153,020 shares of the electric vehicle producer's stock worth $39,657,000 after buying an additional 1,684 shares during the period. Perennial Advisors LLC bought a new position in shares of Tesla during the first quarter valued at about $223,000. Gleason Group Inc. boosted its holdings in shares of Tesla by 6.6% during the first quarter. Gleason Group Inc. now owns 3,234 shares of the electric vehicle producer's stock worth $838,000 after purchasing an additional 200 shares during the period. Paragon Financial Partners Inc. increased its holdings in Tesla by 25.8% during the 1st quarter. Paragon Financial Partners Inc. now owns 2,910 shares of the electric vehicle producer's stock valued at $754,000 after purchasing an additional 597 shares during the period. Finally, Princeton Global Asset Management LLC raised its position in Tesla by 17.7% during the 1st quarter. Princeton Global Asset Management LLC now owns 604 shares of the electric vehicle producer's stock valued at $157,000 after purchasing an additional 91 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $23,300,200. The trade was a 56.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock valued at $273,791,775 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research reports. Royal Bank of Canada decreased their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their price objective on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Roth Mkm reduced their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Finally, Guggenheim reissued a "sell" rating and issued a $170.00 price objective on shares of Tesla in a research note on Thursday, April 24th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $293.67.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $0.31 during midday trading on Wednesday, hitting $326.40. 120,049,041 shares of the company's stock were exchanged, compared to its average volume of 100,510,546. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The firm has a market cap of $1.05 trillion, a P/E ratio of 160.00, a PEG ratio of 5.86 and a beta of 2.47. The stock's 50 day moving average price is $293.86 and its 200-day moving average price is $333.15. 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 (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm earned $0.45 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS 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.