RMR Wealth Builders Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

RMR Wealth Builders lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,204 shares of the electric vehicle producer’s stock after selling 446 shares during the period. RMR Wealth Builders’ holdings in Tesla were worth $3,032,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Brown Advisory Inc. lifted its stake in shares of Tesla by 6.6% in the 3rd quarter. Brown Advisory Inc. now owns 25,999 shares of the electric vehicle producer’s stock worth $6,505,000 after purchasing an additional 1,604 shares during the period. FORVIS Wealth Advisors LLC lifted its stake in shares of Tesla by 11.8% in the 3rd quarter. FORVIS Wealth Advisors LLC now owns 5,920 shares of the electric vehicle producer’s stock worth $1,481,000 after purchasing an additional 625 shares during the period. Cambridge Trust Co. lifted its stake in shares of Tesla by 1.7% in the 3rd quarter. Cambridge Trust Co. now owns 5,090 shares of the electric vehicle producer’s stock worth $1,274,000 after purchasing an additional 83 shares during the period. NBT Bank N A NY bought a new position in shares of Tesla in the 3rd quarter worth approximately $624,000. Finally, Chicago Partners Investment Group LLC increased its holdings in Tesla by 9.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,752 shares of the electric vehicle producer’s stock worth $2,440,000 after acquiring an additional 817 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $175.61 on Thursday. The firm has a market capitalization of $560.06 billion, a PE ratio of 44.57, a P/E/G ratio of 4.74 and a beta of 2.41. 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 business has a 50-day moving average of $173.12 and a two-hundred day moving average of $204.32. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29.

Analyst Ratings Changes

Several research firms recently issued reports on TSLA. Redburn Atlantic began coverage on shares of Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price for the company. Citigroup increased their target price on shares of Tesla from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wedbush reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Tesla in a report on Monday, April 29th. Guggenheim reaffirmed a “sell” rating and set a $122.00 price objective on shares of Tesla in a report on Tuesday, April 23rd. Finally, Cantor Fitzgerald began coverage on shares of Tesla in a report on Thursday, May 2nd. They set an “overweight” rating and a $230.00 price objective for the company. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $185.90.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was 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 in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold 302,803 shares of company stock worth $56,124,840 over the last three months. 20.90% of the stock is owned by 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.