Certus Wealth Management LLC Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Certus Wealth Management LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 2.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,222 shares of the electric vehicle producer’s stock after selling 67 shares during the period. Certus Wealth Management LLC’s holdings in Tesla were worth $897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. GS Investments Inc. lifted its stake in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla during the 4th quarter worth approximately $46,000. Parkworth Wealth Management Inc. acquired a new stake in Tesla in the 4th quarter valued at approximately $47,000. PayPay Securities Corp increased its holdings in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in Tesla in the 4th quarter valued at approximately $55,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 4.7 %

Shares of TSLA opened at $235.86 on Thursday. The company’s fifty day moving average is $341.28 and its two-hundred day moving average is $320.02. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $758.65 billion, a PE ratio of 115.62, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the subject of several research reports. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Mizuho dropped their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a report on Monday. Guggenheim dropped their price target on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research note on Wednesday, March 12th. Glj Research restated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Finally, TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $321.12.

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.