Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 713 shares of the electric vehicle producer’s stock after selling 135 shares during the period. Elmwood Wealth Management Inc.’s holdings in Tesla were worth $288,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after buying an additional 1,022,589 shares during the period. FMR LLC increased its stake in Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after acquiring an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after purchasing an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock worth $213,451,751 in the last three months. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA traded down $2.04 during midday trading on Monday, hitting $392.70. 53,607,610 shares of the stock traded hands, compared to its average volume of 79,029,883. The business’s 50 day moving average price is $376.60 and its two-hundred day moving average price is $281.84. The firm has a market capitalization of $1.26 trillion, a PE ratio of 107.59, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. HSBC reiterated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $230.00 to $515.00 in a research note on Tuesday, December 17th. Finally, Wedbush reiterated an “outperform” rating and set a $400.00 target price on shares of Tesla in a report on Monday, November 18th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $296.60.

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.