Wesbanco Bank Inc. Has $14.51 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Wesbanco Bank Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 80.0% in the first quarter, Holdings Channel.com reports. The firm owned 55,988 shares of the electric vehicle producer’s stock after purchasing an additional 24,877 shares during the quarter. Wesbanco Bank Inc.’s holdings in Tesla were worth $14,510,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TSLA. Norges Bank acquired a new position in shares of Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC grew 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 acquiring an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC increased its position in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC raised its stake 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 valued at $3,497,526,000 after acquiring an additional 8,637,195 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings 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 purchasing an additional 5,719,466 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on TSLA shares. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. BNP Paribas set a $137.00 price objective on Tesla and gave the stock an “underperform” rating in a research report on Wednesday, April 16th. Barclays reduced their target price on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Morgan Stanley restated an “overweight” rating on shares of Tesla in a report on Friday. Finally, Mizuho upped their price objective on shares of Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $294.27.

Tesla Trading Up 3.7%

TSLA opened at $295.14 on Monday. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The firm has a market capitalization of $950.63 billion, a PE ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company’s 50-day moving average is $292.17 and its 200 day moving average is $333.51.

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

Insider Buying and Selling

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 815,945 shares of company stock worth $273,059,215. 20.70% of the stock is owned by corporate insiders.

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.