Whipplewood Advisors LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Whipplewood Advisors LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,957 shares of the electric vehicle producer’s stock after selling 1,103 shares during the period. Tesla makes up approximately 0.9% of Whipplewood Advisors LLC’s investment portfolio, making the stock its 25th largest position. Whipplewood Advisors LLC’s holdings in Tesla were worth $2,831,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. boosted its position in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. grew its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC purchased a new stake in shares of Tesla during the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Tesla in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director now owns 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla 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 completion of the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. The trade was a 9.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 866,393 shares of company stock worth $284,570,654 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

TSLA stock opened at $342.69 on Tuesday. The firm has a market cap of $1.10 trillion, a P/E ratio of 167.99, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The stock has a 50-day simple moving average of $288.33 and a 200-day simple moving average of $334.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the business earned $0.45 EPS. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and upped their price target for the stock from $180.00 to $388.00 in a report on Friday, March 7th. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research note on Tuesday, April 22nd. Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Roth Mkm reduced their price objective on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $293.97.

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.