Tesla, Inc. (NASDAQ:TSLA) Stake Reduced by RWA Wealth Partners LLC

RWA Wealth Partners LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 53.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,800 shares of the electric vehicle producer’s stock after selling 14,938 shares during the period. RWA Wealth Partners LLC’s holdings in Tesla were worth $5,169,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hengehold Capital Management LLC increased its holdings in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares in the last quarter. Strategic Investment Advisors MI raised its position in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the period. Acropolis Investment Management LLC lifted its holdings in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after purchasing an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its position in shares of Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares during the period. Finally, Vista Finance LLC increased its stake in Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Shares of Tesla stock opened at $263.55 on Monday. The firm has a fifty day moving average price of $321.33 and a two-hundred day moving average price of $323.01. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $847.71 billion, a PE ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its 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 10.31% and a net margin of 7.26%. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley reduced their price objective on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Royal Bank of Canada reduced their price objective on Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. UBS Group lowered their target price on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research note on Monday, March 10th. Finally, Benchmark assumed coverage on shares of Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target for the company. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $318.34.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by corporate 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.