Private Wealth Partners LLC Sells 242 Shares of Tesla, Inc. (NASDAQ:TSLA)

Private Wealth Partners LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,270 shares of the electric vehicle producer’s stock after selling 242 shares during the period. Private Wealth Partners LLC’s holdings in Tesla were worth $3,340,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter valued at $29,000. Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter valued at $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla in the fourth quarter valued at $46,000. PayPay Securities Corp grew its stake in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSLA has been the subject of several analyst reports. UBS Group raised their target price on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research note on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday, February 10th. Jefferies Financial Group raised their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Mizuho reaffirmed an “outperform” rating and set a $515.00 price target on shares of Tesla in a report on Thursday, January 30th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $319.57.

Tesla Stock Performance

Tesla stock opened at $337.80 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $400.17 and its two-hundred day moving average price is $313.18. The stock has a market cap of $1.09 trillion, a PE ratio of 165.59, a P/E/G ratio of 5.86 and a beta of 2.34.

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

Insider Buying and Selling at Tesla

In other news, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock worth $195,995,200 over the last 90 days. Insiders own 20.70% 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.