Executive Wealth Management LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Executive Wealth Management LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 32.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,303 shares of the electric vehicle producer’s stock after selling 622 shares during the quarter. Executive Wealth Management LLC’s holdings in Tesla were worth $1,404,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State Street Corp increased its position in shares of Tesla by 4.0% during the 4th quarter. State Street Corp now owns 32,465,720 shares of the electric vehicle producer’s stock valued at $34,309,124,000 after purchasing an additional 1,235,579 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tesla by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 13,571,554 shares of the electric vehicle producer’s stock valued at $14,302,749,000 after purchasing an additional 401,615 shares during the last quarter. Norges Bank purchased a new stake in shares of Tesla during the 4th quarter valued at about $7,918,804,000. Nuveen Asset Management LLC increased its position in shares of Tesla by 7.3% during the 4th quarter. Nuveen Asset Management LLC now owns 5,436,824 shares of the electric vehicle producer’s stock valued at $5,745,526,000 after purchasing an additional 369,560 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Tesla by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,875,251 shares of the electric vehicle producer’s stock valued at $4,095,288,000 after purchasing an additional 100,386 shares during the last quarter. 40.64% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:TSLA opened at $708.26 on Thursday. Tesla, Inc. has a 12-month low of $620.46 and a 12-month high of $1,243.49. The company has a market capitalization of $734.03 billion, a PE ratio of 96.10, a PEG ratio of 2.11 and a beta of 2.13. The business has a 50 day moving average of $789.93 and a two-hundred day moving average of $902.53. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA – Get Rating) last announced its earnings results on Wednesday, April 20th. The electric vehicle producer reported $2.86 earnings per share for the quarter, topping the consensus estimate of $1.64 by $1.22. The business had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $17.84 billion. Tesla had a return on equity of 28.11% and a net margin of 13.51%. The business’s quarterly revenue was up 80.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. Equities research analysts predict that Tesla, Inc. will post 10.25 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on TSLA shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $1,200.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, April 22nd. The Goldman Sachs Group cut their price objective on Tesla from $1,200.00 to $1,000.00 and set a “buy” rating for the company in a research note on Wednesday, June 1st. Berenberg Bank assumed coverage on Tesla in a research note on Tuesday, May 10th. They set a “hold” rating and a $900.00 price objective for the company. Oppenheimer boosted their price objective on Tesla from $1,103.00 to $1,291.00 and gave the company an “outperform” rating in a research note on Thursday, April 21st. Finally, Credit Suisse Group boosted their price objective on Tesla from $1,025.00 to $1,125.00 and gave the company an “outperform” rating in a research note on Tuesday, April 19th. Eight research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $894.73.

In related news, SVP Andrew D. Baglino sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $1,065.00, for a total transaction of $3,727,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Vaibhav Taneja sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $1,141.94, for a total value of $1,484,522.00. Following the sale, the chief accounting officer now owns 25,985 shares of the company’s stock, valued at $29,673,310.90. The disclosure for this sale can be found here. Insiders have sold 416,669 shares of company stock valued at $369,312,309 over the last quarter. 25.00% of the stock is owned by company insiders.

About Tesla (Get Rating)

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.

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