McGlone Suttner Wealth Management Inc. Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

McGlone Suttner Wealth Management Inc. boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,267 shares of the electric vehicle producer’s stock after acquiring an additional 136 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Tesla were worth $1,723,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Greater Midwest Financial Group LLC bought a new position in shares of Tesla during the 4th quarter worth $268,000. Brighton Jones LLC increased its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Sustainable Insight Capital Management LLC raised its position in shares of Tesla by 5.0% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 2,090 shares of the electric vehicle producer’s stock valued at $844,000 after purchasing an additional 100 shares during the period. Hengehold Capital Management LLC lifted its stake in shares of Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares in the last quarter. Finally, Conway Capital Management Inc. boosted its holdings in Tesla by 2.2% in the 4th quarter. Conway Capital Management Inc. now owns 12,575 shares of the electric vehicle producer’s stock worth $5,078,000 after buying an additional 265 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock valued at $212,451,751 in the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $406.58 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.31 trillion, a P/E ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a 50-day moving average of $398.82 and a 200-day moving average of $294.26.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent research reports. Truist Financial restated a “hold” rating and set a $360.00 target price on shares of Tesla in a research report on Thursday, January 2nd. Stifel Nicolaus increased their price objective on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a report on Monday, January 6th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a report on Monday, January 6th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $313.84.

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.