Bright Futures Wealth Management LLC. Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Bright Futures Wealth Management LLC. reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 69.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 634 shares of the electric vehicle producer's stock after selling 1,428 shares during the quarter. Bright Futures Wealth Management LLC.'s holdings in Tesla were worth $247,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Hengehold Capital Management LLC boosted its holdings in 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 purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI grew its holdings in 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 acquiring an additional 24 shares during the period. Acropolis Investment Management LLC raised its position in 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 acquiring an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD lifted its holdings in Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock valued at $2,950,000 after acquiring an additional 25 shares during the period. Finally, Prospect Financial Services LLC boosted its position in Tesla by 0.3% in the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer's stock worth $3,029,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA stock traded down $8.41 during mid-day trading on Thursday, hitting $352.15. 35,481,193 shares of the stock were exchanged, compared to its average volume of 75,138,094. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 172.65, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock's fifty day simple moving average is $403.41 and its two-hundred day simple moving average is $311.13.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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 forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 over the last quarter. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. New Street Research upgraded shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Robert W. Baird cut their price target on Tesla from $480.00 to $440.00 and set an "outperform" rating for the company in a research note on Thursday, January 30th. Evercore ISI upped their price target on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a report on Friday, January 3rd. KGI Securities raised Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 price objective on the stock in a report on Thursday, October 24th. Finally, Mizuho reiterated an "outperform" rating and set a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla currently has an average rating of "Hold" and an average price target of $326.50.

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.