Arista Wealth Management LLC Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Arista Wealth Management LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the 4th quarter, Holdings Channel reports. The fund owned 2,093 shares of the electric vehicle producer’s stock after selling 75 shares during the quarter. Tesla comprises about 0.2% of Arista Wealth Management LLC’s holdings, making the stock its 28th largest position. Arista Wealth Management LLC’s holdings in Tesla were worth $520,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in TSLA. Axiom Financial Strategies LLC boosted its position in Tesla by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after buying an additional 81 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after buying an additional 164,789 shares during the period. MAS Advisors LLC boosted its position in Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after buying an additional 81 shares during the period. Ergoteles LLC boosted its holdings in shares of Tesla by 33.4% during the first 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 period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Tesla by 6.8% during the first 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 period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 2.7 %

Shares of TSLA traded down $4.22 on Thursday, hitting $151.23. 35,195,560 shares of the stock traded hands, compared to its average volume of 100,959,445. The company has a market capitalization of $481.64 billion, a PE ratio of 36.07, a P/E/G ratio of 4.15 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The business has a 50 day simple moving average of $180.24 and a 200 day simple moving average of $212.64. Tesla, Inc. has a one year low of $148.70 and a one year high of $299.29.

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

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Wells Fargo & Company dropped their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a report on Friday, April 12th. HSBC dropped their target price on shares of Tesla from $143.00 to $138.00 and set a “reduce” rating for the company in a report on Wednesday, April 3rd. Robert W. Baird reiterated an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Wednesday. Citigroup dropped their target price on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Tesla from a “buy” rating to a “hold” rating and dropped their target price for the stock from $189.00 to $123.00 in a report on Thursday. Ten equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $194.70.

Insider Activity at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 over the last 90 days. Corporate insiders own 25.10% of the company’s stock.

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.