FSA Wealth Management LLC Has $4.33 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

FSA Wealth Management LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 23.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,716 shares of the electric vehicle producer's stock after selling 3,328 shares during the period. Tesla makes up 1.8% of FSA Wealth Management LLC's portfolio, making the stock its 11th biggest position. FSA Wealth Management LLC's holdings in Tesla were worth $4,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hengehold Capital Management LLC boosted its stake in shares of Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock worth $544,000 after acquiring an additional 24 shares in the last quarter. Strategic Investment Advisors MI lifted its holdings in Tesla by 0.3% in the 4th 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 last quarter. Acropolis Investment Management LLC boosted 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 worth $1,136,000 after purchasing an additional 25 shares during the period. Mount Vernon Associates Inc. MD grew its holdings in Tesla by 0.3% during 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 purchasing an additional 25 shares during the last quarter. Finally, Vista Finance LLC raised its position in shares of Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock valued at $1,417,000 after purchasing an additional 25 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays dropped their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday. Evercore ISI lifted their price objective on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a research note on Friday, January 3rd. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Wednesday. Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Finally, Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average target price of $287.46.

Tesla Trading Up 9.8 %

TSLA stock traded up $25.44 during midday trading on Friday, reaching $284.95. The company's stock had a trading volume of 166,882,151 shares, compared to its average volume of 96,136,367. The business's 50-day simple moving average is $265.36 and its 200-day simple moving average is $322.18. The stock has a market cap of $916.55 billion, a PE ratio of 139.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 52 week low of $158.36 and a 52 week high of $488.54. 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 (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the firm earned $0.45 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value 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. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction on 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 transaction, the director now directly owns 85,000 shares of the company's stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock worth $123,791,123 in the last ninety days. Company 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.