Tesla, Inc. (NASDAQ:TSLA) Holdings Trimmed by Provident Wealth Management LLC

Provident Wealth Management LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,348 shares of the electric vehicle producer’s stock after selling 248 shares during the period. Provident Wealth Management LLC’s holdings in Tesla were worth $544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Kirtland Hills Capital Management LLC lifted its position in shares of Tesla by 37.6% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 6,499 shares of the electric vehicle producer’s stock worth $2,625,000 after purchasing an additional 1,775 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in Tesla in the 4th quarter valued at approximately $4,436,000. Cavalier Investments LLC purchased a new stake in Tesla in the 4th quarter worth approximately $255,000. Daner Wealth Management LLC acquired a new stake in shares of Tesla during the 4th quarter valued at $223,000. Finally, FFT Wealth Management LLC grew its holdings in shares of Tesla by 12.5% during the 4th quarter. FFT Wealth Management LLC now owns 2,126 shares of the electric vehicle producer’s stock valued at $859,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by insiders.

Tesla Trading Down 3.0 %

Shares of TSLA opened at $281.95 on Friday. The stock’s fifty day simple moving average is $387.91 and its 200-day simple moving average is $315.28. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $906.90 billion, a PE ratio of 138.21, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Mizuho reaffirmed an “outperform” rating and set a $515.00 price target on shares of Tesla in a research note on Thursday, January 30th. Robert W. Baird lowered their price target on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $319.57.

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.