FSA Wealth Management LLC Sells 3,328 Shares of Tesla, Inc. (NASDAQ:TSLA)

FSA Wealth Management LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,716 shares of the electric vehicle producer’s stock after selling 3,328 shares during the period. Tesla accounts for 1.8% of FSA Wealth Management LLC’s holdings, making the stock its 11th biggest holding. FSA Wealth Management LLC’s holdings in Tesla were worth $4,328,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Horrell Capital Management Inc. increased its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. boosted its holdings in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in Tesla during the fourth quarter worth $38,000. Delos Wealth Advisors LLC increased its holdings in Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after buying an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new stake in shares of Tesla during the 4th quarter worth approximately $44,000. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. This trade represents a 12.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 374,228 shares of company stock worth $123,791,123 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Piper Sandler dropped their price target on Tesla from $450.00 to $400.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Truist Financial reduced their price objective on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a research note on Thursday, April 3rd. Wedbush cut their target price on Tesla from $550.00 to $315.00 and set an “outperform” rating for the company in a research note on Monday, April 7th. Guggenheim reduced their target price on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Nine equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $290.66.

Tesla Trading Down 5.7 %

Shares of Tesla stock opened at $227.50 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a fifty day moving average of $271.75 and a 200 day moving average of $323.14. The company has a market capitalization of $731.76 billion, a P/E ratio of 111.52, a P/E/G ratio of 5.86 and a beta of 2.58.

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%. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.