Tesla, Inc. (NASDAQ:TSLA) is Accurate Wealth Management LLC’s 9th Largest Position

Accurate Wealth Management LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,135 shares of the electric vehicle producer’s stock after selling 794 shares during the period. Tesla comprises approximately 1.5% of Accurate Wealth Management LLC’s investment portfolio, making the stock its 9th largest holding. Accurate Wealth Management LLC’s holdings in Tesla were worth $8,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after buying an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares in the last quarter. Norges Bank acquired a new position in Tesla in the 4th quarter worth about $14,420,248,000. FMR LLC boosted its position in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other Tesla news, Director Joseph Gebbia purchased 4,000 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the purchase, the director now directly owns 4,111 shares of the company’s stock, valued at approximately $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,564 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer now directly owns 5,924 shares in the company, valued at $1,692,546.04. This represents a 30.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 818,509 shares of company stock worth $273,791,775 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TSLA shares. Barclays reduced their target price on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. The Goldman Sachs Group decreased their price objective on shares of Tesla from $295.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday. Piper Sandler set a $400.00 target price on shares of Tesla in a research report on Tuesday, May 6th. Mizuho upped their price target on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Finally, TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Ten investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $293.67.

Tesla Trading Up 4.6%

Shares of TSLA stock opened at $308.58 on Tuesday. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The firm has a market cap of $993.92 billion, a PE ratio of 151.27, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a 50-day moving average of $292.68 and a two-hundred day moving average of $333.20. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the business posted $0.45 EPS. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.