Oxinas Partners Wealth Management LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Oxinas Partners Wealth Management LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 4.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,860 shares of the electric vehicle producer’s stock after selling 555 shares during the period. Tesla makes up 3.0% of Oxinas Partners Wealth Management LLC’s holdings, making the stock its 8th largest position. Oxinas Partners Wealth Management LLC’s holdings in Tesla were worth $5,193,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the third quarter worth $29,000. Clean Yield Group raised its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the third quarter worth $35,000. Finally, M&R Capital Management Inc. raised its position in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $412.38 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.32 trillion, a PE ratio of 112.98, a P/E/G ratio of 8.55 and a beta of 2.30. The stock has a 50-day simple moving average of $395.08 and a 200 day simple moving average of $292.13.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TSLA shares. Wedbush boosted their target price on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research report on Monday, January 6th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Piper Sandler lifted their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Nine equities research 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 target price of $309.48.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 617,886 shares of company stock valued at $212,451,751. Insiders own 20.70% of the company’s stock.

About Tesla

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.