TSA Wealth Managment LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

TSA Wealth Managment LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,782 shares of the electric vehicle producer’s stock after selling 40 shares during the period. TSA Wealth Managment LLC’s holdings in Tesla were worth $720,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter worth $29,000. Peterson Financial Group Inc. acquired a new position in Tesla during the 3rd quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla during the 4th quarter valued at about $46,000. PayPay Securities Corp grew its position in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares in the last quarter. Finally, Finley Financial LLC purchased a new stake in Tesla during the fourth quarter worth about $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $272.11 on Wednesday. The stock has a market cap of $875.24 billion, a P/E ratio of 133.39, a P/E/G ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a 50 day moving average of $378.63 and a two-hundred day moving average of $318.40. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on TSLA shares. Barclays raised their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Benchmark initiated coverage on shares of Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target for the company. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Wedbush set a $302.80 price target on Tesla in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $315.33.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,996 shares of company stock valued at $118,467,387 over the last quarter. 20.70% of the stock is currently 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.