TruWealth Advisors LLC Sells 28 Shares of Tesla, Inc. (NASDAQ:TSLA)

TruWealth Advisors LLC lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The fund 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter worth approximately $29,000. Clean Yield Group grew its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Tesla in the 3rd quarter worth approximately $35,000. Finally, M&R Capital Management Inc. grew its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.1 %

NASDAQ:TSLA opened at $426.50 on Monday. The firm has a market cap of $1.37 trillion, a P/E ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a 50-day simple moving average of $389.94 and a two-hundred day simple moving average of $288.49.

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. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. Analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TSLA. Robert W. Baird boosted their price target on shares of Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $299.33.

Insider Buying and Selling at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In 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.