Tower View Wealth Management LLC Sells 210 Shares of Tesla, Inc. (NASDAQ:TSLA)

Tower View Wealth Management LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 29.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 495 shares of the electric vehicle producer’s stock after selling 210 shares during the period. Tower View Wealth Management LLC’s holdings in Tesla were worth $123,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Tesla by 1.6% in the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after acquiring an additional 3,453,078 shares during the last quarter. Morgan Stanley raised its holdings in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. FMR LLC lifted its stake in Tesla by 0.9% in the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after purchasing an additional 269,182 shares during the last quarter. Northern Trust Corp grew its holdings in Tesla by 3.4% during the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after purchasing an additional 909,170 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Tesla by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,697,074 shares of the electric vehicle producer’s stock worth $3,677,502,000 after buying an additional 496,299 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 0.8 %

Shares of Tesla stock traded down $1.36 during midday trading on Thursday, reaching $178.63. 34,416,283 shares of the company’s stock traded hands, compared to its average volume of 104,308,031. The company has a market cap of $569.69 billion, a PE ratio of 45.92, a price-to-earnings-growth ratio of 4.98 and a beta of 2.40. The stock has a 50 day moving average of $174.41 and a 200-day moving average of $206.11. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. TD Cowen reduced their target price on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Citigroup upped their price target on shares of Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Daiwa Capital Markets lowered shares of Tesla from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $185.90.

Insider Transactions at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 25.10% of the company’s stock.

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.