TrueWealth Advisors LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

TrueWealth Advisors LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 20.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,903 shares of the electric vehicle producer’s stock after selling 1,023 shares during the period. TrueWealth Advisors LLC’s holdings in Tesla were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in TSLA. Abich Financial Wealth Management LLC raised its stake 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 purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in Tesla during the 3rd quarter worth approximately $29,000. Clean Yield Group lifted its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. raised its holdings in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated 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 sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $426.50 on Monday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a 50 day moving average price of $389.94 and a 200 day moving average price of $288.49. The stock has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TSLA shares. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Friday, January 3rd. Stifel Nicolaus lifted their price target on Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wedbush restated an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. The Goldman Sachs Group lifted their target price on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $230.00 to $515.00 in a report on Tuesday, December 17th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $299.33.

Tesla 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.