Pacific Wealth Strategies Group Inc. Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Pacific Wealth Strategies Group Inc. reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 21.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,407 shares of the electric vehicle producer’s stock after selling 387 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in Tesla were worth $350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wedge Capital Management L L P NC lifted its stake in Tesla by 2.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,078 shares of the electric vehicle producer’s stock valued at $770,000 after acquiring an additional 66 shares during the period. City Holding Co. lifted its stake in Tesla by 9.2% during the 3rd quarter. City Holding Co. now owns 1,368 shares of the electric vehicle producer’s stock valued at $342,000 after acquiring an additional 115 shares during the period. Investment Advisory Group LLC lifted its stake in Tesla by 1.7% during the 3rd quarter. Investment Advisory Group LLC now owns 5,890 shares of the electric vehicle producer’s stock valued at $1,474,000 after acquiring an additional 101 shares during the period. LexAurum Advisors LLC lifted its stake in Tesla by 29.0% during the 3rd quarter. LexAurum Advisors LLC now owns 7,820 shares of the electric vehicle producer’s stock valued at $1,957,000 after acquiring an additional 1,760 shares during the period. Finally, Rothschild Investment LLC IL lifted its stake in Tesla by 30.9% during the 3rd quarter. Rothschild Investment LLC IL now owns 5,229 shares of the electric vehicle producer’s stock valued at $1,308,000 after acquiring an additional 1,234 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s 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 in the company, valued at $2,631,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, 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 through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,098 shares of company stock worth $38,802,534. Insiders own 20.90% of the company’s stock.

Tesla Stock Up 11.3 %

Tesla stock traded up $16.38 during mid-day trading on Wednesday, hitting $161.06. The company had a trading volume of 92,603,682 shares, compared to its average volume of 101,838,023. The stock has a market cap of $512.94 billion, a price-to-earnings ratio of 37.55, a PEG ratio of 3.75 and a beta of 2.39. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $176.81 and a 200 day moving average of $209.24.

Tesla (NASDAQ:TSLA) last announced 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). The business 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 revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSLA. Canaccord Genuity Group decreased their target price on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup decreased their target price on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Truist Financial decreased their target price on shares of Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $205.00 price target on shares of Tesla in a report on Monday. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $187.67.

About Tesla

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.