Tesla, Inc. (NASDAQ:TSLA) Stock Position Decreased by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 30.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,392 shares of the electric vehicle producer’s stock after selling 1,462 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Tesla were worth $1,370,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter valued at $29,000. Peterson Financial Group Inc. acquired a new position in Tesla during the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares in the last quarter. Finley Financial LLC acquired a new stake in Tesla during the 4th quarter worth about $64,000. Finally, Abich Financial Wealth Management LLC grew its stake in Tesla by 136.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock valued at $80,000 after acquiring an additional 176 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TSLA shares. Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and increased their price target for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. upped their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Wedbush lifted their price objective on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Guggenheim restated a “sell” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, January 29th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $326.50.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 5.8 %

Shares of Tesla stock opened at $355.94 on Friday. The company’s fifty day simple moving average is $407.25 and its 200-day simple moving average is $306.44. The company has a market cap of $1.14 trillion, a price-to-earnings ratio of 174.48, a PEG ratio of 6.22 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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%. As a group, sell-side analysts expect that Tesla, Inc. will post 2.54 EPS for the current year.

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.