Lpwm LLC Sells 33 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lpwm LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,241 shares of the electric vehicle producer’s stock after selling 33 shares during the period. Lpwm LLC’s holdings in Tesla were worth $905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capstone Wealth Management Group LLC boosted its stake in shares of Tesla by 19.1% during the fourth quarter. Capstone Wealth Management Group LLC now owns 3,066 shares of the electric vehicle producer’s stock valued at $1,238,000 after purchasing an additional 492 shares in the last quarter. Biltmore Wealth Management LLC lifted its position in Tesla by 2.7% during the fourth quarter. Biltmore Wealth Management LLC now owns 3,772 shares of the electric vehicle producer’s stock valued at $1,523,000 after acquiring an additional 99 shares during the last quarter. Tlwm lifted its position in Tesla by 1.0% during the fourth quarter. Tlwm now owns 8,306 shares of the electric vehicle producer’s stock valued at $3,354,000 after acquiring an additional 86 shares during the last quarter. Wallace Advisory Group LLC purchased a new stake in Tesla during the fourth quarter valued at approximately $503,000. Finally, Cypress Financial Planning LLC purchased a new stake in Tesla during the fourth quarter valued at approximately $237,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 8.0 %

Shares of NASDAQ TSLA opened at $428.22 on Thursday. The company’s 50-day simple moving average is $382.71 and its 200-day simple moving average is $284.69. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 117.32, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 621,886 shares of company stock valued at $213,451,751. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TSLA shares. Evercore ISI increased their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Truist Financial reissued a “hold” rating and set a $360.00 target price on shares of Tesla in a research report on Thursday, January 2nd. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. 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 report on Thursday, October 24th. Finally, Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and raised their price target for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $299.33.

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.