Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Vance Wealth Inc.

Vance Wealth Inc. cut its position in Tesla, Inc. (NASDAQ:TSLA) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,547 shares of the electric vehicle producer’s stock after selling 172 shares during the period. Vance Wealth Inc.’s holdings in Tesla were worth $1,378,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Wyrmwood Management LLC acquired a new position in Tesla during the fourth quarter worth $25,000. Lam Group Inc. acquired a new position in Tesla during the fourth quarter worth $25,000. Mendota Financial Group LLC boosted its stake in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. boosted its stake in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after buying an additional 100 shares during the last quarter. Finally, Cordant Inc. acquired a new position in Tesla during the third quarter worth $53,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Mizuho lowered their price objective on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Wednesday. Sanford C. Bernstein reduced their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 26th. KGI Securities restated a “neutral” rating and issued a $213.00 target price (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Finally, Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $186.70.

Tesla Stock Down 1.1 %

NASDAQ TSLA traded down $1.89 during trading hours on Friday, hitting $168.29. 109,309,500 shares of the company were exchanged, compared to its average volume of 100,050,800. The company has a 50 day moving average of $175.04 and a two-hundred day moving average of $207.61. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The firm has a market cap 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 released its quarterly earnings data 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 analyst estimates of $25.64 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

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.