White Wing Wealth Management Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

White Wing Wealth Management lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,428 shares of the electric vehicle producer’s stock after selling 328 shares during the quarter. Tesla comprises 1.6% of White Wing Wealth Management’s portfolio, making the stock its 10th biggest holding. White Wing Wealth Management’s holdings in Tesla were worth $2,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Hengehold Capital Management LLC raised its stake in Tesla by 1.8% during the 4th 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 raised its stake 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 valued at $2,823,000 after purchasing an additional 24 shares during the period. Acropolis Investment Management LLC raised its stake in Tesla by 0.9% during 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 purchasing an additional 25 shares during the period. Mount Vernon Associates Inc. MD raised its stake in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares during the period. Finally, Vista Finance LLC raised its stake in Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. The trade was a 94.88 % 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 valued at $195,995,200 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 4.7 %

Shares of NASDAQ TSLA opened at $337.80 on Monday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $400.17 and a two-hundred day simple moving average of $314.04. The firm has a market cap of $1.09 trillion, a PE ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its 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%. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of several research analyst reports. Canaccord Genuity Group raised their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Wednesday, February 12th. Robert W. Baird cut their price target on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group raised their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Truist Financial raised their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Ten research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.