Johnson & White Wealth Management LLC Has $664,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Johnson & White Wealth Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 20.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,750 shares of the electric vehicle producer’s stock after selling 450 shares during the period. Johnson & White Wealth Management LLC’s holdings in Tesla were worth $664,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. World Investment Advisors LLC boosted its position in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares during the period. Destination Wealth Management lifted its stake in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd boosted its holdings in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares during the period. MML Investors Services LLC grew its stake in Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after buying an additional 9,919 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Robert W. Baird increased their price objective on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Wells Fargo & Company raised their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $296.60.

Tesla Price Performance

Shares of Tesla stock opened at $396.36 on Wednesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm’s 50-day moving average price is $382.71 and its two-hundred day moving average price is $284.69. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.59, a P/E/G ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. On average, equities analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is 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.