Nwam LLC Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Nwam LLC lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.4% during the 4th quarter, Holdings Channel reports. The fund owned 62,474 shares of the electric vehicle producer’s stock after selling 4,243 shares during the period. Tesla makes up approximately 1.6% of Nwam LLC’s portfolio, making the stock its 10th largest holding. Nwam LLC’s holdings in Tesla were worth $25,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in TSLA. World Investment Advisors LLC raised its stake in shares of Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management raised its stake in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares in the last quarter. Stephens Consulting LLC raised its stake in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after buying an additional 891 shares in the last quarter. Vinva Investment Management Ltd raised its stake in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in shares of Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after buying an additional 9,919 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 523,386 shares of company stock valued at $195,995,200. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Glj Research reissued a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Wednesday, February 12th. Evercore ISI boosted their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Barclays boosted their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $318.77.

Tesla Stock Performance

Shares of TSLA stock opened at $293.33 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock’s 50-day moving average is $385.35 and its two-hundred day moving average is $315.95. The firm has a market cap of $943.49 billion, a P/E ratio of 143.79, a PEG ratio of 5.86 and a beta of 2.34.

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

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.