Wealthcare Capital Partners LLC Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wealthcare Capital Partners LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 19.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,244 shares of the electric vehicle producer’s stock after selling 292 shares during the period. Wealthcare Capital Partners LLC’s holdings in Tesla were worth $323,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC increased its position in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. increased its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. increased its position in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC purchased a new stake in Tesla during the 4th quarter worth about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla during the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 870,721 shares of company stock worth $286,248,728. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

TSLA stock opened at $295.14 on Friday. 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, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The stock’s 50 day moving average is $292.17 and its two-hundred day moving average is $333.56. The company has a market capitalization of $950.63 billion, a PE ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TSLA shares. Glj Research reiterated a “sell” rating and set a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Cantor Fitzgerald dropped their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. UBS Group dropped their price objective on Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $294.27.

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.