IMA Wealth Inc. Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

IMA Wealth Inc. cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,965 shares of the electric vehicle producer’s stock after selling 1,132 shares during the quarter. Tesla comprises about 1.2% of IMA Wealth Inc.’s holdings, making the stock its 29th largest position. IMA Wealth Inc.’s holdings in Tesla were worth $2,476,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the business. Unique Wealth Strategies LLC bought a new stake in Tesla during the fourth quarter valued at $1,237,000. Motley Fool Wealth Management LLC lifted its stake in Tesla by 9.7% during the fourth quarter. Motley Fool Wealth Management LLC now owns 2,101 shares of the electric vehicle producer’s stock worth $522,000 after purchasing an additional 186 shares during the last quarter. Private Wealth Partners LLC lifted its stake in Tesla by 57.8% during the fourth quarter. Private Wealth Partners LLC now owns 10,967 shares of the electric vehicle producer’s stock worth $2,725,000 after purchasing an additional 4,017 shares during the last quarter. Valmark Advisers Inc. lifted its stake in Tesla by 1.3% during the fourth quarter. Valmark Advisers Inc. now owns 10,652 shares of the electric vehicle producer’s stock worth $2,647,000 after purchasing an additional 135 shares during the last quarter. Finally, Addison Advisors LLC lifted its stake in Tesla by 24.8% during the fourth quarter. Addison Advisors LLC now owns 649 shares of the electric vehicle producer’s stock worth $161,000 after purchasing an additional 129 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Wednesday. Edward Jones downgraded Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. JPMorgan Chase & Co. decreased their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Royal Bank of Canada decreased their price objective on Tesla from $294.00 to $293.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, UBS Group decreased their price objective on Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $186.70.

Tesla Stock Down 1.1 %

Shares of TSLA traded down $1.89 during mid-day trading on Friday, reaching $168.29. The company had a trading volume of 109,309,500 shares, 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 firm has a 50-day moving average price of $175.04 and a 200 day moving average price of $208.00. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a market capitalization of $536.71 billion, a price-to-earnings ratio of 42.93, a price-to-earnings-growth ratio of 4.50 and a beta of 2.39.

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

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 in the last ninety days. 25.10% of the stock is currently owned by corporate insiders.

Tesla 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.