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

Capital A Wealth Management LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 81.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Siren L.L.C. purchased a new position in shares of Tesla in the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC raised its holdings in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares in the last quarter. Norges Bank purchased a new position in Tesla in the second quarter worth approximately $11,839,824,000. Police & Firemen s Retirement System of New Jersey grew its holdings in Tesla by 5.6% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock worth $135,688,000 after acquiring an additional 22,607 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Tesla in the 1st quarter valued at approximately $205,495,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

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

Tesla Stock Performance

Shares of TSLA stock opened at $475.31 on Tuesday. The stock’s 50-day moving average price is $435.96 and its 200 day moving average price is $377.25. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.58 trillion, a PE ratio of 316.87, a price-to-earnings-growth ratio of 15.50 and a beta of 1.87. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period last year, the firm earned $0.72 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Evercore ISI boosted their target price on shares of Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Bank of America lifted their price target on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Barclays reissued a “neutral” rating and set a $350.00 target price on shares of Tesla in a research report on Monday, December 1st. China Renaissance upped their price target on Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a report on Friday, October 24th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $500.00 price target on shares of Tesla in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $399.33.

Tesla Company 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.