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

Prosperity Wealth Management Inc. trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,349 shares of the electric vehicle producer’s stock after selling 92 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in Tesla were worth $949,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TSLA. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the fourth quarter valued at $46,000. PayPay Securities Corp increased its stake in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in Tesla in the third quarter valued at $35,000. Rialto Wealth Management LLC acquired a new position in Tesla in the fourth quarter valued at $55,000. Finally, Finley Financial LLC purchased a new stake in Tesla during the fourth quarter valued at about $64,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

TSLA stock opened at $230.58 on Wednesday. The firm has a market cap of $741.66 billion, a price-to-earnings ratio of 113.03, a PEG ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 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. The company’s fifty day simple moving average is $360.40 and its 200 day simple moving average is $319.53.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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 expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TSLA shares. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Robert W. Baird decreased their target price on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. UBS Group decreased their target price on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research report on Monday. Finally, Morgan Stanley reaffirmed a “top pick” rating and issued a $430.00 target price on shares of Tesla in a research report on Monday, March 3rd. Nine 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $326.43.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction 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 approximately $45,063,565.40. The trade was 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 422,452 shares of company stock valued at $153,659,530. Corporate insiders own 20.70% of the company’s stock.

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.