Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,155 shares of the electric vehicle producer’s stock after selling 224 shares during the quarter. Tesla comprises approximately 2.1% of Strait & Sound Wealth Management LLC’s portfolio, making the stock its 11th biggest position. Strait & Sound Wealth Management LLC’s holdings in Tesla were worth $4,505,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. boosted its position in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC purchased a new position in Tesla during the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust acquired a new position in Tesla during the fourth quarter worth approximately $38,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value 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 $114,859,478.69. This trade represents a 10.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,623 shares of company stock valued at $116,650,831 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $341.04 on Friday. The firm’s fifty day simple moving average is $275.05 and its 200-day simple moving average is $332.09. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.10 trillion, a PE ratio of 167.18, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released 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 analysts’ expectations of $22.93 billion. During the same period in the prior year, the firm posted $0.45 EPS. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TSLA. Argus set a $410.00 price objective on Tesla in a report on Thursday, April 24th. Bank of America reduced their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an “underperform” rating in a research report on Wednesday, April 16th. Cantor Fitzgerald dropped their price objective on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Robert W. Baird decreased their target price on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $289.43.

Tesla Company 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.