TRUE Private Wealth Advisors Has $2.58 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

TRUE Private Wealth Advisors lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,383 shares of the electric vehicle producer’s stock after selling 57 shares during the period. TRUE Private Wealth Advisors’ holdings in Tesla were worth $2,578,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TSLA. Norges Bank bought a new position in Tesla during the fourth quarter valued at about $14,420,248,000. FMR LLC increased its holdings in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after acquiring an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in Tesla by 55,181.0% during the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after purchasing an additional 4,374,746 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA opened at $221.86 on Wednesday. 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 firm has a 50-day moving average of $295.83 and a 200-day moving average of $323.34. The company has a market cap of $713.62 billion, a PE ratio of 108.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last posted 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 net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TSLA. Benchmark assumed coverage on shares of Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective for the company. HSBC dropped their price target on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $425.00 price target on shares of Tesla in a research report on Thursday, April 3rd. Wedbush cut their price objective on shares of Tesla from $550.00 to $315.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Bank of America lowered their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $305.31.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 370,228 shares of company stock worth $122,791,123 in the last ninety days. 20.70% of the stock is owned by company insiders.

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.