Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,825 shares of the electric vehicle producer’s stock after selling 313 shares during the quarter. Tesla accounts for approximately 1.0% of Institute for Wealth Management LLC.’s holdings, making the stock its 11th largest holding. Institute for Wealth Management LLC.’s holdings in Tesla were worth $5,920,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. MidWestOne Financial Group Inc. grew its stake in shares of Tesla by 3.3% in the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after purchasing an additional 15 shares during the last quarter. City State Bank lifted its holdings in shares of Tesla by 3.3% in the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock valued at $315,000 after buying an additional 40 shares during the period. Linscomb & Williams Inc. lifted its holdings in shares of Tesla by 3.5% in the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock valued at $1,329,000 after buying an additional 42 shares during the period. Opal Wealth Advisors LLC lifted its holdings in shares of Tesla by 1.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after buying an additional 42 shares during the period. Finally, Holderness Investments Co. lifted its holdings in shares of Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after buying an additional 42 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a report on Friday, April 12th. Citigroup reduced their price target on Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Daiwa Capital Markets cut Tesla from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. Jefferies Financial Group reduced their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Finally, Truist Financial reduced their price objective on Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a report on Wednesday, April 3rd. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $194.70.

Tesla Trading Down 2.0 %

Shares of NASDAQ:TSLA traded down $2.94 during midday trading on Friday, reaching $146.99. The company’s stock had a trading volume of 72,179,439 shares, compared to its average volume of 101,419,055. The firm has a market cap of $468.13 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 4.11 and a beta of 2.39. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 1 year low of $146.64 and a 1 year high of $299.29. The business has a 50 day moving average price of $179.45 and a 200 day moving average price of $212.21.

Tesla (NASDAQ:TSLA) last posted 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). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period last year, the firm posted $1.07 EPS. Tesla’s revenue was up 3.5% on a year-over-year basis. Research analysts forecast that Tesla, Inc. will post 1.97 EPS for the current year.

About Tesla

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.