Axxcess Wealth Management LLC Has $11.88 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Axxcess Wealth Management LLC lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,789 shares of the electric vehicle producer’s stock after selling 1,660 shares during the period. Axxcess Wealth Management LLC’s holdings in Tesla were worth $11,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wyrmwood Management LLC bought a new position in Tesla in the fourth quarter valued at about $25,000. Lam Group Inc. acquired a new position in Tesla during the 4th quarter worth about $25,000. Mendota Financial Group LLC raised its stake in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. boosted its position in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. Finally, Cordant Inc. acquired a new position in shares of Tesla during the third quarter worth approximately $53,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 0.7 %

Shares of NASDAQ:TSLA traded up $1.18 during midday trading on Friday, reaching $181.19. 75,491,539 shares of the company’s stock were exchanged, compared to its average volume of 112,969,304. The firm’s 50 day simple moving average is $173.85 and its two-hundred day simple moving average is $205.42. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. 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 stock has a market cap of $577.85 billion, a price-to-earnings ratio of 46.22, a P/E/G ratio of 4.74 and a beta of 2.41.

Insider Buying and Selling at Tesla

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 transaction, 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 SEC, which is available at this link. In other Tesla 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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. 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 the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was 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 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 three months. Insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on TSLA shares. Mizuho dropped their price objective on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Canaccord Genuity Group cut their price objective on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. The Goldman Sachs Group lowered their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Finally, Canaccord Genuity Group reduced their target price on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $185.90.

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.