Pursue Wealth Partners LLC Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Pursue Wealth Partners LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,031 shares of the electric vehicle producer’s stock after selling 2,134 shares during the period. Tesla comprises approximately 2.7% of Pursue Wealth Partners LLC’s holdings, making the stock its 12th largest position. Pursue Wealth Partners LLC’s holdings in Tesla were worth $4,232,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Opinicus Capital Inc. bought a new stake in Tesla in the 4th quarter worth approximately $605,000. Unique Wealth Strategies LLC bought a new stake in shares of Tesla during the 4th quarter valued at $1,237,000. Motley Fool Wealth Management LLC grew its position in shares of Tesla by 9.7% during the 4th quarter. Motley Fool Wealth Management LLC now owns 2,101 shares of the electric vehicle producer’s stock valued at $522,000 after acquiring an additional 186 shares during the period. Private Wealth Partners LLC grew its position in shares of Tesla by 57.8% during the 4th quarter. Private Wealth Partners LLC now owns 10,967 shares of the electric vehicle producer’s stock valued at $2,725,000 after acquiring an additional 4,017 shares during the period. Finally, Valmark Advisers Inc. boosted its holdings in Tesla by 1.3% in the 4th quarter. Valmark Advisers Inc. now owns 10,652 shares of the electric vehicle producer’s stock worth $2,647,000 after buying an additional 135 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of Tesla stock traded down $1.89 during trading on Friday, hitting $168.29. 109,309,500 shares of the company’s stock were exchanged, compared to its average volume of 100,050,800. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. The business has a 50-day simple moving average of $175.04 and a 200-day simple moving average of $207.61. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The stock has a market capitalization of $536.71 billion, a price-to-earnings ratio of 42.93, a PEG ratio of 4.45 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. On average, research analysts forecast that Tesla, Inc. will post 1.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TSLA shares. The Goldman Sachs Group dropped their target price on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Canaccord Genuity Group decreased their target price on shares of Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research report on Wednesday. Redburn Atlantic assumed coverage on shares of Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price on the stock. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and cut their price target for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. Finally, KGI Securities reiterated a “neutral” rating and set a $213.00 price target (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $186.70.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by company insiders.

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.