Pursue Wealth Partners LLC Sells 2,134 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pursue Wealth Partners LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.1% in the fourth quarter, according to the company in its most recent disclosure 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 quarter. Tesla makes up about 2.7% of Pursue Wealth Partners LLC’s investment portfolio, 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 reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSLA. Vanguard Group Inc. raised its holdings in Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after acquiring an additional 3,453,078 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. FMR LLC boosted its holdings in shares of Tesla by 0.9% in the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after purchasing an additional 269,182 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after purchasing an additional 909,170 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Tesla by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,697,074 shares of the electric vehicle producer’s stock valued at $3,677,502,000 after purchasing an additional 496,299 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. Mizuho reduced their target price on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Wednesday. Daiwa Capital Markets cut Tesla from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Morgan Stanley dropped their price target on Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Wells Fargo & Company dropped their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $186.70.

Tesla Stock Down 1.1 %

Shares of TSLA traded down $1.89 during trading hours on Friday, hitting $168.29. The stock 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 current ratio of 1.72 and a quick ratio of 1.25. The firm has a 50 day simple moving average of $175.04 and a 200-day simple moving average of $207.61. The firm has a market capitalization of $536.71 billion, a P/E ratio of 42.93, a price-to-earnings-growth ratio of 4.45 and a beta of 2.39. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. Sell-side analysts predict that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. Insiders own 25.10% of the company’s stock.

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.