Wealth Architects LLC Sells 147 Shares of Tesla, Inc. (NASDAQ:TSLA)

Wealth Architects LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.1% during the fourth quarter, Holdings Channel reports. The fund owned 6,835 shares of the electric vehicle producer’s stock after selling 147 shares during the period. Wealth Architects LLC’s holdings in Tesla were worth $2,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Swedbank AB boosted its holdings in shares of Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after acquiring an additional 29,669 shares during the period. Principal Financial Group Inc. lifted its holdings in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares during the last quarter. United Bank bought a new stake in Tesla in the 3rd quarter valued at $287,000. Meridian Investment Counsel Inc. acquired a new position in Tesla in the 3rd quarter valued at $230,000. Finally, Sather Financial Group Inc increased its position in Tesla by 18.9% during the 3rd quarter. Sather Financial Group Inc now owns 1,207 shares of the electric vehicle producer’s stock worth $316,000 after buying an additional 192 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 3.9 %

Shares of TSLA opened at $249.98 on Monday. The company has a market capitalization of $804.06 billion, a PE ratio of 122.54, a PEG ratio of 5.86 and a beta of 2.50. The stock’s 50-day moving average price is $351.31 and its two-hundred day moving average price is $320.31. 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 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird decreased their price target on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Benchmark started coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Bank of America lowered their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Truist Financial upped their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $325.65.

Insiders Place Their Bets

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by company insiders.

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.