Wilbanks Smith & Thomas Asset Management LLC Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wilbanks Smith & Thomas Asset Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,388 shares of the electric vehicle producer’s stock after selling 235 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Tesla were worth $1,836,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Mount Vernon Associates Inc. MD lifted its position in Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares in the last quarter. Oak Ridge Investments LLC lifted its position in shares of Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after acquiring an additional 1,405 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Tesla by 3.7% in the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after acquiring an additional 25,943 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after acquiring an additional 6,615 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Tesla by 11.8% in the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after purchasing an additional 81,729 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 0.6 %

Shares of NASDAQ TSLA traded down $1.01 during trading hours on Thursday, reaching $178.98. The stock had a trading volume of 38,840,489 shares, compared to its average volume of 104,382,102. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The firm has a market cap of $570.80 billion, a price-to-earnings ratio of 45.57, a P/E/G ratio of 4.98 and a beta of 2.40. The business’s fifty day moving average price is $174.41 and its two-hundred day moving average price is $206.11. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TSLA. Jefferies Financial Group reduced their target price on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Wells Fargo & Company reduced their target price on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, April 12th. Sanford C. Bernstein reduced their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Cantor Fitzgerald started coverage on Tesla in a research note on Thursday. They set an “overweight” rating and a $230.00 price objective on the stock. Finally, Canaccord Genuity Group reduced their price objective on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $185.90.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. Company insiders own 25.10% of the company’s stock.

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.