Chesapeake Wealth Management Buys 212 Shares of Tesla, Inc. (NASDAQ:TSLA)

Chesapeake Wealth Management grew its position in Tesla, Inc. (NASDAQ:TSLA) by 8.0% during the fourth quarter, HoldingsChannel reports. The firm owned 2,866 shares of the electric vehicle producer’s stock after buying an additional 212 shares during the period. Chesapeake Wealth Management’s holdings in Tesla were worth $1,157,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in TSLA. Abich Financial Wealth Management LLC increased its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Tesla during the 3rd quarter valued at about $29,000. Clean Yield Group lifted its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Tesla during the third quarter worth about $35,000. Finally, M&R Capital Management Inc. increased its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 617,886 shares of company stock worth $212,451,751. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $412.38 on Friday. The stock has a 50-day moving average price of $395.08 and a 200 day moving average price of $292.13. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market capitalization of $1.32 trillion, a P/E ratio of 112.98, a P/E/G ratio of 8.55 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald upped their target price on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and lifted their price target for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. UBS Group boosted their target price on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a report on Monday, November 25th. Finally, Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a research note on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $309.48.

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.