4J Wealth Management LLC Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

4J Wealth Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,566 shares of the electric vehicle producer’s stock after selling 100 shares during the period. 4J Wealth Management LLC’s holdings in Tesla were worth $904,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TSLA. Bank & Trust Co bought a new position in Tesla in the 2nd quarter worth $25,000. OLD Point Trust & Financial Services N A bought a new stake in Tesla during the fourth quarter valued at about $37,000. Guardian Wealth Management Inc. bought a new stake in Tesla during the fourth quarter valued at about $47,000. Kathleen S. Wright Associates Inc. raised its holdings in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares during the period. Finally, A.P. Gilfoyle & Co. L.P. bought a new stake in Tesla during the fourth quarter valued at about $50,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Up 0.9 %

NASDAQ:TSLA traded up $1.98 during trading hours on Friday, reaching $216.12. The company’s stock had a trading volume of 88,620,586 shares, compared to its average volume of 90,901,848. The stock has a 50 day moving average price of $214.37 and a two-hundred day moving average price of $190.80. The company has a market capitalization of $690.43 billion, a P/E ratio of 55.13, a price-to-earnings-growth ratio of 5.22 and a beta of 2.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. Equities analysts predict that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSLA. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Canaccord Genuity Group raised their price objective on Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group dropped their price target on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, HSBC lifted their price target on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $204.21.

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.