Wedbush Securities Inc. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,292 shares of the electric vehicle producer's stock after selling 2,053 shares during the period. Tesla comprises approximately 1.0% of Wedbush Securities Inc.'s holdings, making the stock its 11th biggest holding. Wedbush Securities Inc.'s holdings in Tesla were worth $27,579,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Hengehold Capital Management LLC increased its stake in Tesla by 1.8% in the 4th 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 during the period. Strategic Investment Advisors MI grew its holdings in shares of Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock valued at $2,823,000 after acquiring an additional 24 shares in the last quarter. Acropolis Investment Management LLC increased its stake in shares of Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock worth $1,136,000 after acquiring an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD raised its holdings in shares of 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 worth $2,950,000 after acquiring an additional 25 shares in the last quarter. Finally, Vista Finance LLC boosted its position in Tesla by 0.7% during 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 last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.
Tesla Price Performance
Shares of TSLA stock traded down $6.14 during mid-day trading on Monday, reaching $233.29. The company's stock had a trading volume of 181,900,757 shares, compared to its average volume of 94,625,450. The firm's 50-day moving average is $305.98 and its two-hundred day moving average is $324.24. The company has a market cap of $750.38 billion, a P/E ratio of 114.36, a PEG ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. 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 (NASDAQ:TSLA - Get Free Report) last posted its quarterly 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 return on equity of 10.31% and a net margin of 7.26%. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.
Insider Transactions at Tesla
In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the sale, the chief financial officer now owns 108,965 shares of the company's stock, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 370,228 shares of company stock valued at $122,791,123. Corporate insiders own 20.70% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on TSLA shares. Benchmark assumed coverage on Tesla in a research report on Wednesday, February 12th. They issued a "buy" rating and a $475.00 target price on the stock. Stifel Nicolaus dropped their price objective on Tesla from $474.00 to $455.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Cantor Fitzgerald restated an "overweight" rating and set a $425.00 price target on shares of Tesla in a research note on Thursday. Finally, Royal Bank of Canada reduced their price objective on shares of Tesla from $440.00 to $320.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $305.31.
Check Out Our Latest Stock Analysis on TSLA
About Tesla
(
Free Report)
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.
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