Perigon Wealth Management LLC Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Perigon Wealth Management LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 102,416 shares of the electric vehicle producer's stock after selling 6,729 shares during the period. Tesla accounts for about 0.8% of Perigon Wealth Management LLC's holdings, making the stock its 18th biggest holding. Perigon Wealth Management LLC's holdings in Tesla were worth $25,448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Helios Capital Management PTE. Ltd. acquired a new position in Tesla in the 4th quarter valued at about $2,808,000. MBE Wealth Management LLC increased its position in Tesla by 11.9% in the 4th quarter. MBE Wealth Management LLC now owns 958 shares of the electric vehicle producer's stock valued at $238,000 after acquiring an additional 102 shares during the period. Kennedy Investment Group increased its position in Tesla by 6.9% in the 4th quarter. Kennedy Investment Group now owns 1,454 shares of the electric vehicle producer's stock valued at $361,000 after acquiring an additional 94 shares during the period. Sapient Capital LLC acquired a new position in Tesla in the 4th quarter valued at about $2,906,000. Finally, Signature Estate & Investment Advisors LLC increased its position in Tesla by 27.3% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 6,076 shares of the electric vehicle producer's stock valued at $1,510,000 after acquiring an additional 1,304 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 1.7 %

NASDAQ TSLA traded up $2.84 during trading hours on Thursday, hitting $174.60. The company had a trading volume of 94,376,789 shares, compared to its average volume of 102,827,016. Tesla, Inc. has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The company has a market capitalization of $556.06 billion, a price-to-earnings ratio of 39.33, a P/E/G ratio of 3.40 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm's 50 day moving average is $182.45 and its 200 day moving average is $215.50.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the business posted $1.07 EPS. The business's revenue for the quarter was up 3.5% on a year-over-year basis. Sell-side analysts anticipate that Tesla, Inc. will post 2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of several recent analyst reports. Wells Fargo & Company reissued an "underweight" rating and set a $125.00 price target on shares of Tesla in a research note on Monday, April 1st. TD Cowen decreased their price target on Tesla from $200.00 to $180.00 and set a "market perform" rating on the stock in a research note on Thursday, January 25th. JPMorgan Chase & Co. decreased their price target on Tesla from $130.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 3rd. Canaccord Genuity Group decreased 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. Finally, Truist Financial decreased their price target on Tesla from $193.00 to $176.00 and set a "hold" rating on the stock in a research note on Wednesday, April 3rd. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $199.59.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares of the company's stock, valued at $2,631,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares of the company's stock, valued at $2,631,600. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 over the last quarter. Insiders own 20.90% of the company's stock.

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.

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