Prevail Innovative Wealth Advisors LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Prevail Innovative Wealth Advisors LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,130 shares of the electric vehicle producer’s stock after selling 154 shares during the period. Prevail Innovative Wealth Advisors LLC’s holdings in Tesla were worth $456,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TSLA. Clearbridge Investments LLC raised its holdings in Tesla by 25.7% in the fourth quarter. Clearbridge Investments LLC now owns 1,932,700 shares of the electric vehicle producer’s stock valued at $780,501,000 after buying an additional 394,673 shares during the period. Bullseye Investment Management LLC acquired a new stake in Tesla in the 4th quarter valued at $409,000. United Bank raised its position in Tesla by 20.5% in the fourth quarter. United Bank now owns 1,322 shares of the electric vehicle producer’s stock valued at $534,000 after purchasing an additional 225 shares during the period. Physician Wealth Advisors Inc. lifted its stake in shares of Tesla by 5.3% during the fourth quarter. Physician Wealth Advisors Inc. now owns 5,565 shares of the electric vehicle producer’s stock worth $2,248,000 after purchasing an additional 280 shares in the last quarter. Finally, Retirement Investment Advisors Inc. boosted its position in shares of Tesla by 3.5% in the fourth quarter. Retirement Investment Advisors Inc. now owns 2,958 shares of the electric vehicle producer’s stock worth $1,195,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Benchmark assumed coverage on Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target for the company. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Cantor Fitzgerald raised shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective for the company in a research report on Wednesday, March 19th. Mizuho dropped their target price on Tesla from $515.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Finally, Bank of America reduced their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $318.34.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $263.55 on Monday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock’s fifty day moving average is $321.33 and its 200-day moving average is $323.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market capitalization of $847.71 billion, a price-to-earnings ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company 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.