Tesla, Inc. (NASDAQ:TSLA) is 180 Wealth Advisors LLC’s 6th Largest Position

180 Wealth Advisors LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,848 shares of the electric vehicle producer’s stock after selling 998 shares during the period. Tesla comprises about 2.1% of 180 Wealth Advisors LLC’s investment portfolio, making the stock its 6th biggest position. 180 Wealth Advisors LLC’s holdings in Tesla were worth $13,669,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of TSLA. Connable Office Inc. increased its holdings in Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after acquiring an additional 38 shares during the last quarter. Community Bank N.A. grew its position in shares of Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after purchasing an additional 38 shares in the last quarter. Holistic Financial Partners increased its holdings in shares of Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after purchasing an additional 40 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its position in shares of Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares in the last quarter. Finally, Altman Advisors Inc. boosted its stake in Tesla by 0.4% during the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after buying an additional 43 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TSLA shares. UBS Group lifted their price objective on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. HSBC restated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Morgan Stanley increased their price objective on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Monday. The Goldman Sachs Group boosted their target price on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $360.00 price target on shares of Tesla in a report on Thursday, January 2nd. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $296.60.

Tesla Stock Down 1.7 %

Shares of Tesla stock opened at $396.36 on Wednesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 108.59, a PEG ratio of 10.80 and a beta of 2.30. The firm’s 50-day moving average is $382.71 and its two-hundred day moving average is $284.69.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by company insiders.

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.