Tesla, Inc. (NASDAQ:TSLA) Position Raised by Montz Harcus Wealth Management LLC

Montz Harcus Wealth Management LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 199.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,769 shares of the electric vehicle producer’s stock after purchasing an additional 1,845 shares during the period. Tesla accounts for about 0.8% of Montz Harcus Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding. Montz Harcus Wealth Management LLC’s holdings in Tesla were worth $734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Greenspring Advisors LLC raised its holdings in Tesla by 126.8% during the third quarter. Greenspring Advisors LLC now owns 753 shares of the electric vehicle producer’s stock worth $200,000 after purchasing an additional 421 shares in the last quarter. Connecticut Wealth Management LLC raised its holdings in Tesla by 192.6% during the third quarter. Connecticut Wealth Management LLC now owns 1,911 shares of the electric vehicle producer’s stock worth $507,000 after purchasing an additional 1,258 shares in the last quarter. Cannell & Co. grew its position in Tesla by 200.0% in the third quarter. Cannell & Co. now owns 1,050 shares of the electric vehicle producer’s stock worth $279,000 after buying an additional 700 shares during the last quarter. Hohimer Wealth Management LLC grew its position in Tesla by 201.8% in the third quarter. Hohimer Wealth Management LLC now owns 8,535 shares of the electric vehicle producer’s stock worth $2,264,000 after buying an additional 5,707 shares during the last quarter. Finally, First National Trust Co grew its position in Tesla by 200.5% in the third quarter. First National Trust Co now owns 45,091 shares of the electric vehicle producer’s stock worth $11,960,000 after buying an additional 30,086 shares during the last quarter. Institutional investors own 43.00% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $143.89 on Wednesday. The stock has a market cap of $454.37 billion, a P/E ratio of 44.46, a PEG ratio of 1.18 and a beta of 2.02. The company’s 50-day simple moving average is $148.77 and its 200 day simple moving average is $220.41. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $384.29. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. Guggenheim lowered shares of Tesla from a “neutral” rating to a “sell” rating in a research report on Friday, January 13th. Royal Bank of Canada decreased their price target on shares of Tesla from $225.00 to $186.00 in a research report on Tuesday, January 3rd. Robert W. Baird decreased their price target on shares of Tesla from $316.00 to $252.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 28th. StockNews.com initiated coverage on shares of Tesla in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company decreased their price target on shares of Tesla from $230.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Friday, January 13th. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $216.60.

Insider Activity at Tesla

In related news, CFO Zachary Kirkhorn sold 3,752 shares of the company’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total value of $410,131.12. Following the sale, the chief financial officer now owns 200,411 shares of the company’s stock, valued at $21,906,926.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the sale, the senior vice president now directly owns 62,988 shares of the company’s stock, valued at $14,484,090.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Zachary Kirkhorn sold 3,752 shares of the company’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total transaction of $410,131.12. Following the sale, the chief financial officer now directly owns 200,411 shares in the company, valued at $21,906,926.41. The disclosure for this sale can be found here. Insiders have sold a total of 24,172,833 shares of company stock valued at $4,492,567,309 over the last quarter. 25.10% of the stock is owned by company insiders.

Tesla Company Profile

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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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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