Tesla, Inc. (NASDAQ:TSLA) Shares Sold by N.E.W. Advisory Services LLC

N.E.W. Advisory Services LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the fourth quarter, Holdings Channel reports. The fund owned 5,762 shares of the electric vehicle producer’s stock after selling 167 shares during the period. N.E.W. Advisory Services LLC’s holdings in Tesla were worth $1,432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Wyrmwood Management LLC acquired a new stake in Tesla during the fourth quarter worth approximately $25,000. Lam Group Inc. acquired a new position in Tesla in the fourth quarter valued at $25,000. Mendota Financial Group LLC grew its holdings in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. lifted its holdings in shares of Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. Finally, Cordant Inc. acquired a new stake in shares of Tesla in the 3rd quarter valued at about $53,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, 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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were 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 of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 over the last 90 days. Company insiders own 25.10% of the company’s stock.

Tesla Trading Up 2.0 %

Shares of NASDAQ TSLA traded up $3.57 during midday trading on Monday, reaching $184.76. 84,172,375 shares of the stock were exchanged, compared to its average volume of 104,452,320. The stock has a 50 day moving average price of $173.56 and a 200-day moving average price of $204.56. The company has a market capitalization of $589.24 billion, a P/E ratio of 47.13, a P/E/G ratio of 4.74 and a beta of 2.41. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29.

Analyst Ratings Changes

A number of equities analysts have recently commented on TSLA shares. Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and cut their target price for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. TD Cowen lowered their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lowered their target price on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 3rd. Finally, China Renaissance initiated coverage on Tesla in a report on Monday, February 26th. They set a “hold” rating for the company. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $185.90.

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.