Waypoint Wealth Partners Inc. Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Waypoint Wealth Partners Inc. cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,620 shares of the electric vehicle producer’s stock after selling 158 shares during the quarter. Tesla accounts for 0.3% of Waypoint Wealth Partners Inc.’s investment portfolio, making the stock its 29th largest position. Waypoint Wealth Partners Inc.’s holdings in Tesla were worth $1,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $46,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA opened at $360.56 on Thursday. The stock’s 50-day moving average price is $403.41 and its 200 day moving average price is $311.13. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.16 trillion, a price-to-earnings ratio of 176.75, a PEG ratio of 5.89 and a beta of 2.34.

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

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 523,386 shares of company stock valued at $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research reports. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Piper Sandler boosted their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Stifel Nicolaus dropped their price target on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Wednesday, February 12th. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $326.50.

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.