TRUE Private Wealth Advisors Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

TRUE Private Wealth Advisors reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,383 shares of the electric vehicle producer’s stock after selling 57 shares during the period. TRUE Private Wealth Advisors’ holdings in Tesla were worth $2,578,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares in the last quarter. United Bank purchased a new stake in shares of Tesla in the 3rd quarter valued at approximately $287,000. M&T Bank Corp raised its holdings in shares of Tesla by 13.3% in the 3rd quarter. M&T Bank Corp now owns 341,442 shares of the electric vehicle producer’s stock valued at $89,332,000 after purchasing an additional 39,961 shares in the last quarter. Conway Capital Management Inc. purchased a new stake in shares of Tesla during the 3rd quarter worth $3,221,000. Finally, High Falls Advisors Inc increased its holdings in Tesla by 6.3% in the third quarter. High Falls Advisors Inc now owns 2,184 shares of the electric vehicle producer’s stock valued at $571,000 after buying an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent analyst reports. Barclays lifted their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Cowen raised Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Guggenheim cut their price objective on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a report on Wednesday, March 12th. Glj Research restated a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Finally, Bank of America cut their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $305.31.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 370,228 shares of company stock worth $122,791,123. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 4.9 %

NASDAQ TSLA opened at $221.86 on Wednesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market cap of $713.62 billion, a P/E ratio of 108.76, a PEG ratio of 5.86 and a beta of 2.58. The company’s fifty day simple moving average is $295.83 and its 200-day simple moving average is $323.34.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. Equities research analysts predict that Tesla, Inc. will post 2.56 EPS 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.