Wealth Alliance Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wealth Alliance decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,847 shares of the electric vehicle producer’s stock after selling 88 shares during the period. Wealth Alliance’s holdings in Tesla were worth $3,689,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Axiom Financial Strategies LLC increased its position in shares of Tesla by 9.8% in the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after purchasing an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Tesla by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after purchasing an additional 164,789 shares during the last quarter. MAS Advisors LLC increased its position in shares of Tesla by 25.7% in the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after purchasing an additional 81 shares during the last quarter. Ergoteles LLC increased its position in shares of Tesla by 33.4% in the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after purchasing an additional 893 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Tesla by 6.8% in the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after purchasing an additional 4,593 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSLA. JPMorgan Chase & Co. dropped their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, April 2nd. UBS Group lowered their price objective on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Finally, Barclays lowered their price objective on shares of Tesla from $250.00 to $225.00 and set an “equal weight” rating for the company in a research report on Thursday, January 25th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $198.81.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $5.14 during midday trading on Tuesday, reaching $156.34. The company’s stock had a trading volume of 84,110,811 shares, compared to its average volume of 101,992,688. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average price of $181.44 and a 200 day moving average price of $213.70. Tesla, Inc. has a one year low of $152.37 and a one year high of $299.29. The company has a market cap of $497.91 billion, a price-to-earnings ratio of 36.36, a price-to-earnings-growth ratio of 4.50 and a beta of 2.40.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts expect that Tesla, Inc. will post 1.98 EPS for the current year.

Insider Buying and Selling

In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last ninety days. 20.90% of the stock is currently 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.