Lodestone Wealth Management LLC Sells 64 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lodestone Wealth Management LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,781 shares of the electric vehicle producer’s stock after selling 64 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Tesla were worth $719,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TSLA. Hickory Asset Management Inc. purchased a new stake in Tesla during the fourth quarter valued at about $444,000. Covenant Asset Management LLC lifted its stake in shares of Tesla by 71.3% in the 4th quarter. Covenant Asset Management LLC now owns 2,206 shares of the electric vehicle producer’s stock valued at $891,000 after acquiring an additional 918 shares during the last quarter. Kessler Investment Group LLC boosted its holdings in Tesla by 3.5% during the 4th quarter. Kessler Investment Group LLC now owns 22,575 shares of the electric vehicle producer’s stock valued at $9,117,000 after acquiring an additional 760 shares during the period. Empire Life Investments Inc. bought a new position in Tesla during the 4th quarter worth approximately $2,280,000. Finally, BXM Wealth LLC purchased a new position in Tesla in the 4th quarter worth approximately $410,000. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wedbush increased their price objective on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and raised their price target for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $440.00 price objective on shares of Tesla in a research note on Thursday, January 30th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, The Goldman Sachs Group upped their price target on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $326.50.

Tesla Stock Down 0.5 %

Shares of Tesla stock opened at $354.11 on Wednesday. The company has a 50-day simple moving average of $405.64 and a two-hundred day simple moving average of $309.75. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market capitalization of $1.14 trillion, a PE ratio of 173.58, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 over the last ninety days. 20.70% of the stock is currently owned by corporate 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.