Vigilare Wealth Management Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Vigilare Wealth Management lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,379 shares of the electric vehicle producer’s stock after selling 230 shares during the quarter. Tesla accounts for about 0.6% of Vigilare Wealth Management’s investment portfolio, making the stock its 25th largest holding. Vigilare Wealth Management’s holdings in Tesla were worth $1,365,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TSLA. Abich Financial Wealth Management LLC increased its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in Tesla in the 3rd quarter valued at $29,000. Clean Yield Group raised its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the third quarter worth about $35,000. Finally, M&R Capital Management Inc. grew its stake in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TSLA shares. Canaccord Genuity Group boosted their price target on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Guggenheim upped their target price on shares of Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research note on Thursday, December 5th. Morgan Stanley lifted their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and raised their target price for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus boosted their price target on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $296.60.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $403.31 on Tuesday. The stock has a market cap of $1.29 trillion, a P/E ratio of 110.50, a P/E/G ratio of 10.80 and a beta of 2.30. The firm’s 50-day simple moving average is $379.81 and its 200 day simple moving average is $283.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

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.