WCG Wealth Advisors LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

WCG Wealth Advisors LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,931 shares of the electric vehicle producer’s stock after selling 752 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Tesla were worth $7,645,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Tesla in the 4th quarter valued at about $56,600,000. Stephens Consulting LLC raised its holdings in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after purchasing an additional 891 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. grew its holdings in shares of Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after purchasing an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. purchased a new position in shares of Tesla during the fourth quarter worth about $8,158,000. Finally, Vontobel Holding Ltd. grew its holdings in shares of Tesla by 23.0% during the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after purchasing an additional 60,342 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TSLA shares. Cowen raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and upped their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. HSBC lowered their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Truist Financial set a $280.00 price target on Tesla in a report on Tuesday, April 22nd. Finally, UBS Group dropped their price target on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research note on Thursday, April 10th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $289.43.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $341.04 on Friday. The company has a market cap of $1.10 trillion, a P/E ratio of 167.18, a P/E/G ratio of 5.86 and a beta of 2.43. The business has a fifty day simple moving average of $275.05 and a 200-day simple moving average of $332.09. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

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

Tesla 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.