Wellington Shields Capital Management LLC Has $2.02 Million Stock Holdings in Tesla, Inc. $TSLA

Wellington Shields Capital Management LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 13.4% during the second quarter, Holdings Channel.com reports. The fund owned 6,353 shares of the electric vehicle producer’s stock after buying an additional 750 shares during the period. Wellington Shields Capital Management LLC’s holdings in Tesla were worth $2,018,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC grew its position in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after buying an additional 931 shares during the last quarter. Bison Wealth LLC increased its holdings in shares of Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares during the last quarter. World Investment Advisors raised its stake in Tesla by 8.1% in the 1st quarter. World Investment Advisors now owns 26,536 shares of the electric vehicle producer’s stock valued at $6,877,000 after acquiring an additional 1,998 shares during the period. Finally, Whelan Financial lifted its holdings in Tesla by 37.6% during the 1st quarter. Whelan Financial now owns 2,307 shares of the electric vehicle producer’s stock valued at $598,000 after purchasing an additional 630 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. DZ Bank reiterated a “sell” rating on shares of Tesla in a research note on Thursday, October 23rd. Truist Financial upped their price objective on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Bank of America boosted their target price on shares of Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and eleven have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $390.27.

Tesla Stock Performance

Shares of Tesla stock opened at $456.56 on Monday. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The company has a market cap of $1.52 trillion, a PE ratio of 304.37, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $410.52 and a 200-day moving average of $348.87.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter last year, the company posted $0.72 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.