Axxcess Wealth Management LLC Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

Axxcess Wealth Management LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.4% during the fourth quarter, HoldingsChannel reports. The firm owned 47,789 shares of the electric vehicle producer’s stock after selling 1,660 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Tesla were worth $11,875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in shares of Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. grew its position in Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after buying an additional 3,453,078 shares during the period. California Public Employees Retirement System boosted its stake in shares of Tesla by 34.0% during the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after acquiring an additional 2,293,344 shares during the last quarter. Morgan Stanley grew its holdings in Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Tesla by 3.4% in the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after buying an additional 909,170 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TSLA shares. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Wednesday, April 24th. China Renaissance initiated coverage on shares of Tesla in a research report on Monday, February 26th. They set a “hold” rating for the company. Edward Jones lowered Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Cantor Fitzgerald assumed coverage on Tesla in a research report on Thursday. They set an “overweight” rating and a $230.00 target price for the company. Finally, Canaccord Genuity Group cut their price target on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $185.90.

Tesla Trading Up 0.7 %

TSLA traded up $1.18 during trading hours on Friday, reaching $181.19. The company’s stock had a trading volume of 75,491,539 shares, compared to its average volume of 112,969,304. The business’s 50-day moving average is $173.85 and its 200-day moving average is $205.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The stock has a market cap of $577.85 billion, a PE ratio of 46.22, a P/E/G ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.

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.