REDW Wealth LLC Sells 686 Shares of Tesla, Inc. (NASDAQ:TSLA)

REDW Wealth LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,506 shares of the electric vehicle producer’s stock after selling 686 shares during the period. REDW Wealth LLC’s holdings in Tesla were worth $1,416,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Geode Capital Management LLC increased its position in Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares during the last quarter. FMR LLC grew its stake in shares of Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after purchasing an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock worth $6,996,871,000 after purchasing an additional 780,026 shares during the period. Finally, Amundi boosted its holdings in shares of Tesla by 1.2% in the fourth quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer’s stock worth $5,117,345,000 after buying an additional 159,508 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, January 30th. Benchmark began coverage on Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective for the company. Stifel Nicolaus lowered their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Wedbush restated an “outperform” rating and issued a $550.00 price target on shares of Tesla in a research report on Friday. Finally, Bank of America lowered their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Nine investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $327.37.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 422,452 shares of company stock valued at $153,659,530. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Down 0.3 %

Shares of NASDAQ TSLA opened at $262.67 on Monday. The stock has a market capitalization of $844.88 billion, a P/E ratio of 128.76, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The business’s 50 day moving average is $367.78 and its two-hundred day moving average is $319.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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 expect that Tesla, Inc. will post 2.56 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.