Tesla, Inc. (NASDAQ:TSLA) Stake Lowered by TruWealth Advisors LLC

TruWealth Advisors LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,205 shares of the electric vehicle producer’s stock after selling 28 shares during the period. TruWealth Advisors LLC’s holdings in Tesla were worth $487,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ameritas Advisory Services LLC lifted its position in Tesla by 104.9% during the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock worth $23,242,000 after acquiring an additional 29,458 shares during the last quarter. HB Wealth Management LLC raised its position in Tesla by 0.6% in the fourth quarter. HB Wealth Management LLC now owns 425,644 shares of the electric vehicle producer’s stock worth $171,947,000 after purchasing an additional 2,426 shares in the last quarter. Hubbell Strickland Wealth Management LLC bought a new stake in Tesla during the fourth quarter worth about $215,000. Shelton Wealth Management LLC bought a new stake in Tesla during the fourth quarter worth about $358,000. Finally, Premier Path Wealth Partners LLC grew its stake in Tesla by 7.8% during the fourth quarter. Premier Path Wealth Partners LLC now owns 17,576 shares of the electric vehicle producer’s stock worth $7,098,000 after buying an additional 1,279 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 3.1 %

Shares of NASDAQ TSLA opened at $426.50 on Monday. The firm has a market cap of $1.37 trillion, a PE ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company’s fifty day simple moving average is $389.94 and its 200 day simple moving average is $288.49. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and increased their price target for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Royal Bank of Canada increased their price target on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Jefferies Financial Group lifted their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $299.33.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock valued at $213,451,751 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

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.