Elite Wealth Management Inc. Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Elite Wealth Management Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,612 shares of the electric vehicle producer’s stock after selling 197 shares during the period. Tesla comprises approximately 0.2% of Elite Wealth Management Inc.’s holdings, making the stock its 21st largest holding. Elite Wealth Management Inc.’s holdings in Tesla were worth $1,459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Hengehold Capital Management LLC boosted its stake in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after purchasing an additional 24 shares during the period. Strategic Investment Advisors MI lifted its holdings in Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after buying an additional 24 shares in the last quarter. Acropolis Investment Management LLC boosted its position in Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD grew its stake in shares of Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares in the last quarter. Finally, Vista Finance LLC increased its position in shares of Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after acquiring an additional 25 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Tesla stock opened at $330.53 on Tuesday. The business has a 50 day simple moving average of $397.52 and a 200-day simple moving average of $314.96. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $1.06 trillion, a PE ratio of 162.03, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

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

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The stock was 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 owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock worth $195,995,200 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Glj Research reissued a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Wednesday, February 12th. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Mizuho reiterated an “outperform” rating and set a $515.00 price target on shares of Tesla in a report on Thursday, January 30th. Finally, StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Ten equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $319.57.

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.