Calamos Wealth Management LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Calamos Wealth Management LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,243 shares of the electric vehicle producer’s stock after selling 181 shares during the period. Calamos Wealth Management LLC’s holdings in Tesla were worth $4,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. abrdn plc increased its holdings in Tesla by 33.7% in the fourth quarter. abrdn plc now owns 2,233,104 shares of the electric vehicle producer’s stock valued at $554,882,000 after buying an additional 563,265 shares in the last quarter. WP Advisors LLC increased its holdings in Tesla by 3.6% in the fourth quarter. WP Advisors LLC now owns 3,369 shares of the electric vehicle producer’s stock valued at $837,000 after buying an additional 118 shares in the last quarter. CNB Bank increased its holdings in Tesla by 11.4% in the fourth quarter. CNB Bank now owns 6,942 shares of the electric vehicle producer’s stock valued at $1,725,000 after buying an additional 708 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after buying an additional 6,615 shares in the last quarter. Finally, Kraft Davis & Associates LLC increased its holdings in Tesla by 3.7% in the fourth quarter. Kraft Davis & Associates LLC now owns 2,180 shares of the electric vehicle producer’s stock valued at $542,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TSLA shares. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, April 2nd. Mizuho reissued a “neutral” rating and set a $195.00 target price (down previously from $270.00) on shares of Tesla in a research note on Monday, March 25th. The Goldman Sachs Group cut their target price on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Wells Fargo & Company cut their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. Finally, Truist Financial cut their target price on shares of Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a research note on Wednesday, April 3rd. Ten investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $194.70.

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last ninety days. 25.10% of the stock is currently owned by corporate insiders.

Tesla Price Performance

NASDAQ:TSLA traded down $2.88 during mid-day trading on Friday, hitting $147.05. 87,074,500 shares of the company’s stock traded hands, compared to its average volume of 89,857,384. The company has a market cap of $468.32 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 3.96 and a beta of 2.39. Tesla, Inc. has a 1 year low of $146.22 and a 1 year high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The firm’s 50 day simple moving average is $178.51 and its 200 day simple moving average is $211.48.

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