Napa Wealth Management Has $2.85 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Napa Wealth Management decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 52.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,055 shares of the electric vehicle producer's stock after selling 7,912 shares during the quarter. Tesla comprises approximately 1.2% of Napa Wealth Management's holdings, making the stock its 14th largest position. Napa Wealth Management's holdings in Tesla were worth $2,849,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new position in Tesla during the fourth quarter valued at approximately $56,600,000. Stephens Consulting LLC grew its stake in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after buying an additional 891 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. increased its holdings in Tesla by 133.7% in 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 buying an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. acquired a new stake in Tesla in the fourth quarter valued at approximately $8,158,000. Finally, Ameritas Advisory Services LLC grew its position in Tesla by 104.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer's stock worth $23,242,000 after acquiring an additional 29,458 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Down 1.4%

TSLA stock traded down $4.86 during trading on Thursday, hitting $342.82. The company had a trading volume of 97,570,410 shares, compared to its average volume of 96,795,965. The firm has a 50-day moving average price of $262.55 and a 200-day moving average price of $328.41. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 168.05, a PEG ratio of 5.86 and a beta of 2.43. 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 - Get Free Report) last issued its quarterly earnings data 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the prior year, the company earned $0.45 EPS. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at $25,466,850. This trade represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at $7,242,273.50. This represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 412,623 shares of company stock worth $115,600,501 in the last 90 days. Corporate insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent research reports. StockNews.com downgraded shares of Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Barclays reduced their price target on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. UBS Group lowered their price objective on Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Benchmark reiterated a "buy" rating and set a $350.00 price target on shares of Tesla in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $287.46.

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.