4J Wealth Management LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

4J Wealth Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,470 shares of the electric vehicle producer’s stock after selling 65 shares during the period. Tesla makes up about 0.9% of 4J Wealth Management LLC’s holdings, making the stock its 25th largest holding. 4J Wealth Management LLC’s holdings in Tesla were worth $1,158,000 as of its most recent SEC filing.

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

Tesla Stock Down 0.7%

Tesla stock opened at $313.56 on Friday. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average of $320.36 and a two-hundred day moving average of $327.07. The stock has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 172.29, a PEG ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TSLA shares. Mizuho lifted their target price on shares of Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 16th. UBS Group set a $290.00 price target on Tesla in a research report on Monday. Baird R W downgraded Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. Benchmark restated a “buy” rating and set a $475.00 target price (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Oppenheimer reissued a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $301.24.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock worth $278,648,925 in the last three months. Company 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.