Tesla, Inc. (NASDAQ:TSLA) is White Wing Wealth Management’s 10th Largest Position

White Wing Wealth Management decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,428 shares of the electric vehicle producer’s stock after selling 328 shares during the quarter. Tesla accounts for approximately 1.6% of White Wing Wealth Management’s portfolio, making the stock its 10th largest position. White Wing Wealth Management’s holdings in Tesla were worth $2,192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Strategic Financial Concepts LLC boosted its stake in Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after buying an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares in the last quarter. Wellington Management Group LLP boosted its stake in Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after buying an additional 2,511,488 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $337.80 on Monday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 165.59, a PEG ratio of 5.86 and a beta of 2.34. The business’s fifty day moving average is $400.17 and its 200 day moving average is $314.04. 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 (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 over the last ninety days. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several research reports. Guggenheim reaffirmed a “sell” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, January 29th. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and upped their target price for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group boosted their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Truist Financial boosted their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Ten research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $319.57.

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.