Global Wealth Management Investment Advisory Inc. Has $1.37 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Global Wealth Management Investment Advisory Inc. lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 30.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,392 shares of the electric vehicle producer’s stock after selling 1,462 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Tesla were worth $1,370,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bristlecone Advisors LLC boosted its stake in shares of Tesla by 3.9% in the 4th quarter. Bristlecone Advisors LLC now owns 27,904 shares of the electric vehicle producer’s stock valued at $11,269,000 after purchasing an additional 1,048 shares in the last quarter. Powell Investment Advisors LLC lifted its position in Tesla by 2.8% during the 4th quarter. Powell Investment Advisors LLC now owns 5,470 shares of the electric vehicle producer’s stock worth $2,209,000 after buying an additional 150 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV acquired a new position in Tesla during the 4th quarter worth about $256,000. Soltis Investment Advisors LLC lifted its position in Tesla by 113.7% during the 4th quarter. Soltis Investment Advisors LLC now owns 25,658 shares of the electric vehicle producer’s stock worth $10,362,000 after buying an additional 13,654 shares in the last quarter. Finally, Elser Financial Planning Inc acquired a new position in Tesla during the 4th quarter worth about $436,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TSLA shares. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 price target on shares of Tesla in a research report on Wednesday, January 29th. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Piper Sandler upped their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, UBS Group upped their target price on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $326.50.

Tesla Price Performance

NASDAQ TSLA opened at $355.94 on Friday. The business has a 50 day simple moving average of $407.25 and a 200 day simple moving average of $306.44. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market cap of $1.14 trillion, a price-to-earnings ratio of 174.48, a PEG ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released 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 return on equity of 10.31% and a net margin of 7.26%. Analysts anticipate that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock valued at $195,995,200 in the last quarter. 20.70% of the stock is currently owned by insiders.

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.