Circle Wealth Management LLC Has $10.06 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Circle Wealth Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,914 shares of the electric vehicle producer's stock after selling 2,310 shares during the period. Circle Wealth Management LLC's holdings in Tesla were worth $10,061,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after buying an additional 3,571,793 shares during the period. Geode Capital Management LLC lifted its stake in shares of Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares in the last quarter. Norges Bank acquired a new stake in Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC raised its holdings in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. Finally, Northern Trust Corp lifted its position in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Up 4.6 %

TSLA stock traded up $13.23 during midday trading on Friday, hitting $298.05. The company's stock had a trading volume of 132,028,653 shares, compared to its average volume of 96,148,356. The company's fifty day moving average price is $258.65 and its 200 day moving average price is $326.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The stock has a market capitalization of $960.01 billion, a P/E ratio of 146.10, a PEG ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the company posted $0.45 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Benchmark restated a "buy" rating and set a $350.00 target price on shares of Tesla in a report on Wednesday, April 23rd. Barclays dropped their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Truist Financial set a $280.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. Wells Fargo & Company cut their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. Finally, Wedbush reiterated an "outperform" rating and set a $350.00 price objective on shares of Tesla in a research note on Thursday, May 1st. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $287.46.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now owns 23,084 shares of the company's stock, valued at approximately $6,833,325.68. The trade was a 20.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,623 shares of company stock worth $114,400,501. Company insiders own 20.70% 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.