Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Wealth Effects LLC

Wealth Effects LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,670 shares of the electric vehicle producer’s stock after selling 220 shares during the quarter. Tesla comprises about 1.0% of Wealth Effects LLC’s holdings, making the stock its 16th largest position. Wealth Effects LLC’s holdings in Tesla were worth $2,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Quarry LP acquired a new position in shares of Tesla in the 2nd quarter valued at $48,000. Central Pacific Bank Trust Division raised its position in shares of Tesla by 1,179.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 4,339 shares of the electric vehicle producer’s stock worth $1,135,000 after buying an additional 4,000 shares during the period. Czech National Bank boosted its holdings in Tesla by 6.9% in the third quarter. Czech National Bank now owns 565,270 shares of the electric vehicle producer’s stock valued at $147,892,000 after acquiring an additional 36,544 shares during the last quarter. Curbstone Financial Management Corp acquired a new stake in Tesla during the third quarter worth about $470,000. Finally, Unique Wealth LLC raised its holdings in shares of Tesla by 4.1% in the 3rd quarter. Unique Wealth LLC now owns 2,111 shares of the electric vehicle producer’s stock worth $552,000 after purchasing an additional 84 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TSLA shares. Evercore ISI boosted their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. The Goldman Sachs Group boosted their price objective on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group raised their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Nine equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $318.31.

Tesla Price Performance

TSLA opened at $404.60 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $403.18 and its 200 day moving average price is $297.99. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market cap of $1.30 trillion, a price-to-earnings ratio of 198.33, a price-to-earnings-growth ratio of 8.08 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. As a group, sell-side analysts expect that Tesla, Inc. will post 2.82 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly 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. Over the last three months, insiders have sold 553,386 shares of company stock worth $196,305,796. 20.70% of the stock is owned by insiders.

Tesla 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.