McNaughton Wealth Management LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

McNaughton Wealth Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,983 shares of the electric vehicle producer’s stock after selling 100 shares during the quarter. Tesla accounts for approximately 0.8% of McNaughton Wealth Management LLC’s holdings, making the stock its 29th biggest holding. McNaughton Wealth Management LLC’s holdings in Tesla were worth $1,608,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TSLA. Brown Brothers Harriman & Co. lifted its stake in Tesla by 36.6% in the second quarter. Brown Brothers Harriman & Co. now owns 10,921 shares of the electric vehicle producer’s stock worth $2,161,000 after purchasing an additional 2,926 shares during the last quarter. One Capital Management LLC increased its position in shares of Tesla by 2.1% during the second quarter. One Capital Management LLC now owns 13,135 shares of the electric vehicle producer’s stock worth $2,599,000 after acquiring an additional 273 shares during the period. Citizens Financial Group Inc. RI increased its position in shares of Tesla by 131.0% during the second quarter. Citizens Financial Group Inc. RI now owns 25,543 shares of the electric vehicle producer’s stock worth $5,054,000 after acquiring an additional 14,484 shares during the period. Wulff Hansen & CO. increased its position in shares of Tesla by 19,688.0% during the second quarter. Wulff Hansen & CO. now owns 239,435 shares of the electric vehicle producer’s stock worth $47,379,000 after acquiring an additional 238,225 shares during the period. Finally, WealthPLAN Partners LLC increased its position in shares of Tesla by 9.6% during the second quarter. WealthPLAN Partners LLC now owns 12,649 shares of the electric vehicle producer’s stock worth $2,503,000 after acquiring an additional 1,109 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.7 %

TSLA stock opened at $396.36 on Wednesday. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 108.59, a P/E/G ratio of 10.80 and a beta of 2.30. The firm has a 50-day simple moving average of $382.71 and a 200-day simple moving average of $284.69. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the company earned $0.53 EPS. Tesla’s revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 621,886 shares of company stock valued at $213,451,751. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TSLA. Stifel Nicolaus raised their target price on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Truist Financial reissued a “hold” rating and set a $360.00 price objective on shares of Tesla in a report on Thursday, January 2nd. Robert W. Baird lifted their price objective on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. HSBC reissued a “reduce” rating and set a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. Finally, Morgan Stanley lifted their price objective on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $296.60.

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.