Wilbanks Smith & Thomas Asset Management LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Wilbanks Smith & Thomas Asset Management LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,388 shares of the electric vehicle producer’s stock after selling 235 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Tesla were worth $1,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wyrmwood Management LLC purchased a new position in Tesla in the 4th quarter valued at approximately $25,000. Lam Group Inc. purchased a new stake in shares of Tesla during the 4th quarter worth $25,000. Mendota Financial Group LLC lifted its position in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. lifted its position in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. Finally, Cordant Inc. purchased a new stake in shares of Tesla during the 3rd quarter worth $53,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 over the last ninety days. 25.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Royal Bank of Canada decreased their price objective on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Canaccord Genuity Group decreased their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Finally, China Renaissance started coverage on shares of Tesla in a research report on Monday, February 26th. They issued a “hold” rating for the company. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $185.90.

Tesla Stock Performance

Shares of Tesla stock traded down $1.01 on Thursday, reaching $178.98. 38,840,489 shares of the stock were exchanged, compared to its average volume of 104,382,102. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $174.41 and a two-hundred day moving average price of $206.11. The firm has a market capitalization of $570.80 billion, a PE ratio of 45.57, a PEG ratio of 4.98 and a beta of 2.40.

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.