Selective Wealth Management Inc. Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Selective Wealth Management Inc. cut its position in Tesla, Inc. (NASDAQ:TSLA) by 22.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 819 shares of the electric vehicle producer’s stock after selling 233 shares during the quarter. Selective Wealth Management Inc.’s holdings in Tesla were worth $325,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. King Luther Capital Management Corp raised its position in shares of Tesla by 2.8% in the second quarter. King Luther Capital Management Corp now owns 6,348 shares of the electric vehicle producer’s stock valued at $1,256,000 after purchasing an additional 173 shares during the period. Pacer Advisors Inc. grew its stake in Tesla by 2.7% in the 2nd quarter. Pacer Advisors Inc. now owns 289,756 shares of the electric vehicle producer’s stock valued at $57,337,000 after buying an additional 7,633 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Tesla by 62.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 20,289 shares of the electric vehicle producer’s stock worth $4,015,000 after acquiring an additional 7,804 shares in the last quarter. Circle Wealth Management LLC boosted its holdings in shares of Tesla by 50.9% in the second quarter. Circle Wealth Management LLC now owns 21,318 shares of the electric vehicle producer’s stock worth $4,218,000 after acquiring an additional 7,193 shares during the period. Finally, Holderness Investments Co. grew its position in shares of Tesla by 10.0% in the second quarter. Holderness Investments Co. now owns 3,198 shares of the electric vehicle producer’s stock valued at $633,000 after purchasing an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several analyst reports. Barclays raised their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Friday, January 3rd. JPMorgan Chase & Co. increased their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Morgan Stanley lifted their price objective on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $299.33.

Tesla Stock Up 3.1 %

NASDAQ:TSLA opened at $426.50 on Monday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a market capitalization of $1.37 trillion, a PE ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The firm’s 50-day moving average price is $389.94 and its 200-day moving average price is $288.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the business earned $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock valued at $213,451,751 in the last quarter. 20.70% of the stock is owned by 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.