Wesbanco Bank Inc. Purchases 24,877 Shares of Tesla, Inc. (NASDAQ:TSLA)

Wesbanco Bank Inc. lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 80.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,988 shares of the electric vehicle producer's stock after buying an additional 24,877 shares during the period. Wesbanco Bank Inc.'s holdings in Tesla were worth $14,510,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TSLA. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth about $14,420,248,000. FMR LLC raised its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. GAMMA Investing LLC lifted its stake in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after acquiring an additional 8,637,195 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Glj Research reaffirmed a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. HSBC cut their price target on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a report on Thursday, March 27th. Wells Fargo & Company decreased their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Bank of America cut their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an "underperform" rating in a report on Wednesday, April 16th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one 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 has an average rating of "Hold" and a consensus price target of $294.27.

Tesla Stock Performance

NASDAQ:TSLA opened at $295.14 on Monday. The company has a market cap of $950.63 billion, a price-to-earnings ratio of 144.68, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a fifty day moving average price of $292.17 and a 200-day moving average price of $333.51.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the company earned $0.45 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director now directly owns 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 815,945 shares of company stock worth $273,059,215. Corporate insiders own 20.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.