Capital A Wealth Management LLC Reduces Stock Holdings in Tesla, Inc. $TSLA

Capital A Wealth Management LLC lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 81.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 267 shares of the electric vehicle producer’s stock after selling 1,156 shares during the period. Capital A Wealth Management LLC’s holdings in Tesla were worth $85,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. TradeWell Securities LLC. raised its position in Tesla by 15.8% during the second quarter. TradeWell Securities LLC. now owns 1,995 shares of the electric vehicle producer’s stock worth $634,000 after acquiring an additional 272 shares during the last quarter. National Wealth Management Group LLC increased its stake in shares of Tesla by 26.3% during the 2nd quarter. National Wealth Management Group LLC now owns 8,447 shares of the electric vehicle producer’s stock worth $2,683,000 after purchasing an additional 1,761 shares in the last quarter. Momentum Wealth Planning LLC acquired a new position in shares of Tesla during the 2nd quarter worth approximately $3,114,000. RS Crum Inc. lifted its stake in Tesla by 16.1% in the 2nd quarter. RS Crum Inc. now owns 1,621 shares of the electric vehicle producer’s stock valued at $515,000 after buying an additional 225 shares in the last quarter. Finally, Caldwell Trust Co acquired a new stake in Tesla during the 2nd quarter valued at $643,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at $6,107,145.01. This trade represents a 16.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares in the company, valued at $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TSLA shares. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. William Blair restated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. The Goldman Sachs Group lowered their price target on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. UBS Group reissued a “sell” rating on shares of Tesla in a research note on Friday, November 7th. Finally, Mizuho set a $475.00 target price on shares of Tesla and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $399.33.

Tesla Stock Performance

NASDAQ:TSLA opened at $475.31 on Tuesday. The company has a market cap of $1.58 trillion, a P/E ratio of 316.87, a P/E/G ratio of 15.50 and a beta of 1.87. The firm’s 50 day moving average is $435.96 and its two-hundred day moving average is $377.25. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.