WT Wealth Management Purchases 5,972 Shares of Tesla, Inc. $TSLA

Key Points

• WT Wealth Management increased its Tesla stake by 178.7% in Q2, buying 5,972 shares to own 9,313 shares worth about $2.96 million.
• Kimbal Musk sold 56,820 Tesla shares for roughly $25.6 million on Dec. 9 and CFO Vaibhav Taneja sold 2,637 shares (~$1.17 million), with corporate insiders now holding 19.90% of the stock.
• Tesla is trading up (around $475.31), with a $1.58 trillion market cap and a high PE of 316.87; MarketBeat shows a consensus "Hold" rating and a $399.33 price target.

WT Wealth Management raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 178.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,313 shares of the electric vehicle producer's stock after acquiring an additional 5,972 shares during the period. WT Wealth Management's holdings in Tesla were worth $2,958,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Chapman Financial Group LLC bought a new stake in Tesla during the 2nd quarter valued at $26,000. LGT Financial Advisors LLC bought a new position in shares of Tesla in the second quarter valued at $29,000. CoreFirst Bank & Trust acquired a new position in shares of Tesla during the second quarter valued at about $30,000. ESL Trust Services LLC increased its position in shares of Tesla by 1,900.0% during the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 95 shares in the last quarter. Finally, Delos Wealth Advisors LLC acquired a new stake in shares of Tesla in the 2nd quarter worth about $32,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 3.6%

Shares of Tesla stock opened at $475.31 on Tuesday. The firm has a market cap of $1.58 trillion, a PE ratio of 316.87, a P/E/G ratio of 15.50 and a beta of 1.87. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock has a fifty day moving average price of $435.96 and a 200-day moving average price of $377.25.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the previous year, the firm earned $0.72 EPS. The firm's quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. Mizuho set a $475.00 price objective on Tesla and gave the stock an "outperform" rating in a report on Tuesday, November 25th. DZ Bank reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, October 23rd. New Street Research increased their price target on Tesla from $465.00 to $520.00 and gave the company a "buy" rating in a research report on Thursday, October 23rd. Bank of America lifted their price objective on shares of Tesla from $341.00 to $471.00 and gave the stock a "neutral" rating in a report on Wednesday, October 29th. Finally, Glj Research reiterated a "sell" rating on shares of Tesla in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $399.33.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 56,820 shares of the firm's stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the sale, the director owned 1,391,615 shares in the company, valued at $627,145,215.90. This trade represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares in the company, valued at $6,107,145.01. This trade represents a 16.09% decrease in their position. The SEC filing for this sale provides additional information. 19.90% of the stock is owned by corporate insiders.

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.

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