Mine & Arao Wealth Creation & Management LLC. Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Mine & Arao Wealth Creation & Management LLC. trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 18.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,371 shares of the electric vehicle producer’s stock after selling 316 shares during the period. Mine & Arao Wealth Creation & Management LLC.’s holdings in Tesla were worth $341,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wyrmwood Management LLC acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $25,000. Lam Group Inc. acquired a new stake in Tesla during the 4th quarter worth $25,000. Mendota Financial Group LLC grew its position in Tesla by 202.2% during the 4th 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 last quarter. Kathleen S. Wright Associates Inc. raised its holdings in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the last quarter. Finally, Cordant Inc. acquired a new stake in shares of Tesla during the third quarter worth about $53,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TSLA shares. Sanford C. Bernstein decreased their price objective on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research report on Tuesday, March 26th. Canaccord Genuity Group lowered their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Robert W. Baird restated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research note on Wednesday, April 17th. HSBC dropped their price target on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 24th. Finally, Mizuho dropped their target price on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $184.32.

Tesla Trading Down 1.2 %

NASDAQ:TSLA traded down $2.24 on Wednesday, reaching $181.04. The stock had a trading volume of 60,863,753 shares, compared to its average volume of 104,788,992. The company has a market cap of $577.37 billion, a price-to-earnings ratio of 45.96, a P/E/G ratio of 5.28 and a beta of 2.39. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The firm’s fifty day moving average is $174.71 and its two-hundred day moving average is $206.29.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on 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 approximately $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 20.90% 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.