Acorn Wealth Advisors LLC Sells 156 Shares of Tesla, Inc. (NASDAQ:TSLA)

Acorn Wealth Advisors LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 8.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,702 shares of the electric vehicle producer’s stock after selling 156 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Tesla were worth $423,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Wyrmwood Management LLC bought a new position in shares of Tesla during the fourth quarter worth approximately $25,000. Lam Group Inc. bought a new position in shares of Tesla during the fourth quarter worth approximately $25,000. Mendota Financial Group LLC increased its holdings in shares of 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 purchasing an additional 91 shares during the period. Kathleen S. Wright Associates Inc. boosted its position in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Finally, Cordant Inc. acquired a new stake in shares of Tesla during the 3rd quarter worth approximately $53,000. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on 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 completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction 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 $6,376,229.10. The disclosure for this sale can be found here. Insiders sold 302,803 shares of company stock valued at $56,124,840 over the last quarter. Insiders own 25.10% of the company’s stock.

Tesla Trading Down 2.0 %

NASDAQ TSLA traded down $3.50 during mid-day trading on Friday, reaching $168.47. 72,627,178 shares of the stock were exchanged, compared to its average volume of 105,518,592. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The stock has a 50 day simple moving average of $171.29 and a 200-day simple moving average of $203.59. The stock has a market cap of $537.28 billion, a P/E ratio of 42.98, a P/E/G ratio of 4.65 and a beta of 2.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TSLA. Guggenheim reiterated a “sell” rating and set a $122.00 price target on shares of Tesla in a research report on Tuesday, April 23rd. Morgan Stanley reduced their price target on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. JPMorgan Chase & Co. reduced their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Finally, Cantor Fitzgerald assumed coverage on shares of Tesla in a research report on Thursday, May 2nd. They set an “overweight” rating and a $230.00 price target on the stock. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $185.90.

Check Out Our Latest Stock Analysis on Tesla

About Tesla

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLAFree Report).

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.