Viawealth LLC Sells 903 Shares of Tesla, Inc. (NASDAQ:TSLA)

Viawealth LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.4% in the 4th quarter, HoldingsChannel reports. The firm owned 3,523 shares of the electric vehicle producer’s stock after selling 903 shares during the period. Viawealth LLC’s holdings in Tesla were worth $1,423,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. GS Investments Inc. raised its stake in shares of Tesla by 193.3% during 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. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the fourth quarter worth $46,000. Parkworth Wealth Management Inc. purchased a new position in shares of Tesla in the fourth quarter worth $47,000. PayPay Securities Corp increased 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 worth $49,000 after buying an additional 69 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in Tesla during the 4th quarter valued at $55,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $235.86 on Thursday. The stock’s fifty day moving average price is $341.28 and its 200-day moving average price is $320.02. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $758.65 billion, a P/E ratio of 115.62, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Canaccord Genuity Group restated a “buy” rating and set a $404.00 target price on shares of Tesla in a report on Monday. Mizuho dropped their price target on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday. Wells Fargo & Company dropped their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Finally, Guggenheim dropped their price target on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $321.12.

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.