Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 7.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,569 shares of the electric vehicle producer’s stock after selling 361 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Tesla were worth $1,135,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vicus Capital raised its position in shares of Tesla by 50.6% in the 3rd quarter. Vicus Capital now owns 1,676 shares of the electric vehicle producer’s stock worth $419,000 after buying an additional 563 shares during the period. First Pacific Financial acquired a new position in shares of Tesla in the 3rd quarter valued at approximately $81,000. Callahan Advisors LLC lifted its position in shares of Tesla by 10.0% during the third quarter. Callahan Advisors LLC now owns 1,375 shares of the electric vehicle producer’s stock worth $344,000 after purchasing an additional 125 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in Tesla by 0.4% in the third quarter. Maryland State Retirement & Pension System now owns 212,230 shares of the electric vehicle producer’s stock worth $53,104,000 after purchasing an additional 935 shares during the period. Finally, Dakota Wealth Management grew its position in shares of Tesla by 20.1% during the 3rd quarter. Dakota Wealth Management now owns 12,233 shares of the electric vehicle producer’s stock valued at $3,061,000 after buying an additional 2,045 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TSLA. Sanford C. Bernstein reduced their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Canaccord Genuity Group cut their price objective on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Tesla in a report on Wednesday, April 17th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $184.32.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $2.40 during trading hours on Wednesday, hitting $180.88. 52,343,043 shares of the company’s stock were exchanged, compared to its average volume of 104,679,563. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company’s 50-day moving average price is $174.71 and its 200-day moving average price is $206.29. The stock has a market capitalization of $576.86 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 5.28 and a beta of 2.39. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, 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. Over the last three months, insiders sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is owned by company insiders.

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.