Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,612 shares of the electric vehicle producer’s stock after selling 197 shares during the quarter. Tesla accounts for 0.2% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Elite Wealth Management Inc.’s holdings in Tesla were worth $1,459,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. World Investment Advisors LLC raised its position in shares of Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares during the last quarter. Destination Wealth Management increased its position in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares in the last quarter. Stephens Consulting LLC raised its holdings in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after acquiring an additional 891 shares during the last quarter. Vinva Investment Management Ltd lifted its position in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after acquiring an additional 43,685 shares in the last quarter. Finally, MML Investors Services LLC boosted its stake in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 2.2 %

NASDAQ TSLA opened at $330.53 on Tuesday. The stock has a market cap of $1.06 trillion, a P/E ratio of 162.03, a PEG ratio of 5.86 and a beta of 2.34. The company’s fifty day simple moving average is $397.52 and its 200-day simple moving average is $314.96. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction 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 completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 523,386 shares of company stock valued at $195,995,200. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TSLA. Guggenheim restated a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, January 29th. Piper Sandler upped their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Wedbush set a $328.50 target price on shares of Tesla in a research note on Wednesday, February 12th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research note on Monday, February 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research report on Tuesday, February 18th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $319.57.

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.