Accurate Wealth Management LLC Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Accurate Wealth Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 19.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,614 shares of the electric vehicle producer’s stock after selling 6,599 shares during the period. Tesla makes up about 1.2% of Accurate Wealth Management LLC’s investment portfolio, making the stock its 11th largest position. Accurate Wealth Management LLC’s holdings in Tesla were worth $3,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. Platform Technology Partners boosted its holdings in shares of Tesla by 4.8% in the 4th quarter. Platform Technology Partners now owns 4,392 shares of the electric vehicle producer’s stock worth $541,000 after purchasing an additional 202 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Tesla by 23.8% in the 4th quarter. Foundations Investment Advisors LLC now owns 34,676 shares of the electric vehicle producer’s stock worth $4,271,000 after purchasing an additional 6,664 shares in the last quarter. MADDEN SECURITIES Corp boosted its holdings in shares of Tesla by 3.9% in the 4th quarter. MADDEN SECURITIES Corp now owns 21,361 shares of the electric vehicle producer’s stock worth $2,631,000 after purchasing an additional 797 shares in the last quarter. EWG Elevate Inc. boosted its holdings in shares of Tesla by 44.5% in the 4th quarter. EWG Elevate Inc. now owns 6,683 shares of the electric vehicle producer’s stock worth $823,000 after purchasing an additional 2,057 shares in the last quarter. Finally, Phocas Financial Corp. purchased a new position in shares of Tesla in the 4th quarter worth about $55,000. 43.00% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 2.2 %

Shares of Tesla stock traded down $4.00 during midday trading on Friday, hitting $180.13. The company had a trading volume of 133,197,140 shares, compared to its average volume of 183,019,109. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.53. The stock has a market capitalization of $569.95 billion, a P/E ratio of 49.71, a P/E/G ratio of 2.18 and a beta of 2.06. The company has a 50 day moving average of $175.38 and a 200 day moving average of $197.63. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $384.29.

Tesla (NASDAQ:TSLA – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The electric vehicle producer reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.21. The company had revenue of $24.32 billion for the quarter, compared to the consensus estimate of $24.26 billion. Tesla had a return on equity of 31.71% and a net margin of 15.41%. The firm’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. On average, equities analysts predict that Tesla, Inc. will post 3.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Zachary Kirkhorn sold 3,752 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total value of $410,131.12. Following the sale, the chief financial officer now owns 200,411 shares in the company, valued at approximately $21,906,926.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, SVP Andrew D. Baglino sold 1,298 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $195.79, for a total transaction of $254,135.42. Following the sale, the senior vice president now directly owns 65,547 shares in the company, valued at approximately $12,833,447.13. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Zachary Kirkhorn sold 3,752 shares of the stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total value of $410,131.12. Following the sale, the chief financial officer now owns 200,411 shares in the company, valued at $21,906,926.41. The disclosure for this sale can be found here. Insiders have sold 53,221 shares of company stock worth $8,988,542 in the last 90 days. Insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Argus cut their price objective on Tesla from $374.00 to $257.00 and set a “buy” rating for the company in a report on Friday, January 27th. KGI Securities lowered Tesla from an “outperform” rating to a “neutral” rating and set a $196.00 target price for the company. in a research note on Thursday, March 2nd. Piper Sandler lowered their target price on Tesla from $340.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday, January 18th. Daiwa Capital Markets boosted their target price on Tesla from $200.00 to $218.00 and gave the company an “outperform” rating in a research note on Friday, March 3rd. Finally, Edward Jones raised Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, January 5th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $221.39.

About Tesla

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.