Wealthgarden F.S. LLC Decreases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wealthgarden F.S. LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 98.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,112 shares of the electric vehicle producer’s stock after selling 65,605 shares during the period. Wealthgarden F.S. LLC’s holdings in Tesla were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter worth $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the 4th quarter worth $46,000. PayPay Securities Corp lifted its holdings in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter worth $35,000. Finally, Finley Financial LLC acquired a new position in Tesla in the 4th quarter worth $64,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock valued at $195,995,200 over the last ninety days. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSLA. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Glj Research restated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Wednesday, February 12th. Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Finally, Truist Financial upped their target price on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $319.57.

Tesla Trading Down 8.4 %

Tesla stock opened at $302.80 on Wednesday. The firm has a 50 day simple moving average of $393.98 and a 200-day simple moving average of $315.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $973.96 billion, a PE ratio of 148.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.