Pacific Wealth Strategies Group Inc. Sells 387 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pacific Wealth Strategies Group Inc. trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,407 shares of the electric vehicle producer’s stock after selling 387 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in Tesla were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Mount Vernon Associates Inc. MD raised its position in shares of Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after acquiring an additional 350 shares during the last quarter. Oak Ridge Investments LLC raised its stake in Tesla by 4.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after buying an additional 1,405 shares during the period. Corient Private Wealth LLC raised its stake in Tesla by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after buying an additional 25,943 shares during the period. J.W. Cole Advisors Inc. raised its stake in Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after buying an additional 6,615 shares during the period. Finally, Nordea Investment Management AB raised its stake in Tesla by 11.8% during the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after buying an additional 81,729 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction 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 transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on TSLA. Sanford C. Bernstein lowered their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Canaccord Genuity Group lowered their target price on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, January 25th. TD Cowen lowered their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Guggenheim restated a “sell” rating and issued a $122.00 price objective on shares of Tesla in a report on Tuesday. Finally, Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Friday, April 19th. Eight analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $187.67.

Tesla Price Performance

TSLA traded up $16.38 during trading on Wednesday, hitting $161.06. 92,603,682 shares of the stock traded hands, compared to its average volume of 101,838,023. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a market cap of $512.94 billion, a price-to-earnings ratio of 37.55, a PEG ratio of 3.75 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The business has a 50 day moving average price of $176.81 and a 200 day moving average price of $209.24.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 EPS. Equities research analysts forecast that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

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.