Global Wealth Management Investment Advisory Inc. Sells 361 Shares of Tesla, Inc. (NASDAQ:TSLA)

Global Wealth Management Investment Advisory Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,569 shares of the electric vehicle producer’s stock after selling 361 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Tesla were worth $1,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Wyrmwood Management LLC bought a new stake in Tesla during the fourth quarter valued at about $25,000. Lam Group Inc. bought a new stake in shares of Tesla in the 4th quarter valued at about $25,000. Mendota Financial Group LLC grew its position in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. raised its stake in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Finally, Cordant Inc. purchased a new stake in shares of Tesla during the 3rd quarter valued at $53,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research analyst reports. Edward Jones downgraded Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. HSBC cut their price objective on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a report on Wednesday, April 24th. China Renaissance started coverage on shares of Tesla in a research note on Monday, February 26th. They issued a “hold” rating for the company. Citigroup upped their price target on shares of Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Barclays lowered their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $184.32.

Tesla Price Performance

Shares of TSLA stock traded down $2.40 during mid-day trading on Wednesday, hitting $180.88. 52,343,043 shares of the stock were exchanged, compared to its average volume of 104,679,563. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a market cap of $576.86 billion, a PE ratio of 45.96, a price-to-earnings-growth ratio of 5.28 and a beta of 2.39. The firm has a fifty day moving average of $174.71 and a 200 day moving average of $206.29.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is owned by corporate insiders.

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.