VCI Wealth Management LLC Invests $218,000 in Tesla, Inc. (NASDAQ:TSLA)

VCI Wealth Management LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 876 shares of the electric vehicle producer’s stock, valued at approximately $218,000.

Other institutional investors have also added to or reduced their stakes in the company. Wyrmwood Management LLC acquired a new stake in Tesla during the 4th quarter worth about $25,000. Lam Group Inc. purchased a new position in Tesla in the fourth quarter worth approximately $25,000. Mendota Financial Group LLC lifted its stake in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV raised its stake in shares of Tesla by 94.5% in the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 69 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. increased its holdings in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TSLA shares. Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research report on Wednesday. KGI Securities reaffirmed a “neutral” rating and set a $213.00 price target (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Wednesday. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Wednesday. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $186.70.

Insider Buying and Selling

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of Tesla stock traded down $1.89 on Friday, hitting $168.29. The stock had a trading volume of 109,309,500 shares, compared to its average volume of 103,386,453. The company’s 50 day moving average price is $175.67 and its 200 day moving average price is $208.64. The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The stock has a market cap of $535.97 billion, a price-to-earnings ratio of 43.44, a P/E/G ratio of 4.28 and a beta of 2.39. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the firm earned $1.07 EPS. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, research analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current 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.