Institute for Wealth Management LLC. Sells 313 Shares of Tesla, Inc. (NASDAQ:TSLA)

Institute for Wealth Management LLC. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 23,825 shares of the electric vehicle producer’s stock after selling 313 shares during the quarter. Tesla makes up approximately 1.0% of Institute for Wealth Management LLC.’s portfolio, making the stock its 11th largest holding. Institute for Wealth Management LLC.’s holdings in Tesla were worth $5,920,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TSLA. MidWestOne Financial Group Inc. lifted its holdings in shares of Tesla by 3.3% during the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after acquiring an additional 15 shares during the period. City State Bank lifted its holdings in shares of Tesla by 3.3% during the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock worth $315,000 after acquiring an additional 40 shares during the period. Linscomb & Williams Inc. lifted its holdings in shares of Tesla by 3.5% during the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after acquiring an additional 42 shares during the period. Opal Wealth Advisors LLC lifted its holdings in shares of Tesla by 1.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock worth $1,089,000 after acquiring an additional 42 shares during the period. Finally, Holderness Investments Co. lifted its holdings in shares of Tesla by 1.6% during the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after acquiring an additional 42 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent analyst reports. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. KGI Securities restated a “neutral” rating and issued a $213.00 target price (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Edward Jones downgraded shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Wells Fargo & Company reduced their price objective on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research report on Friday, April 12th. Finally, TD Cowen dropped their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Ten research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $194.70.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by corporate insiders.

Tesla Stock Down 2.0 %

Shares of Tesla stock traded down $2.94 during trading on Friday, reaching $146.99. 72,179,439 shares of the company traded hands, compared to its average volume of 101,419,055. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla, Inc. has a 1-year low of $146.64 and a 1-year high of $299.29. The company has a 50 day moving average price of $179.45 and a 200-day moving average price of $212.21. The firm has a market capitalization of $468.13 billion, a PE ratio of 34.82, a P/E/G ratio of 4.11 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Tesla 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.