Code Waechter LLC Sells 50 Shares of Tesla, Inc. (NASDAQ:TSLA)

Code Waechter LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.4% during the fourth quarter, Holdings Channel reports. The firm owned 737 shares of the electric vehicle producer’s stock after selling 50 shares during the quarter. Code Waechter LLC’s holdings in Tesla were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AAFMAA Wealth Management & Trust LLC purchased a new stake in Tesla during the fourth quarter valued at approximately $497,000. Cullen Investment Group LTD. increased its holdings in Tesla by 1.4% during the fourth quarter. Cullen Investment Group LTD. now owns 3,439 shares of the electric vehicle producer’s stock valued at $1,389,000 after buying an additional 48 shares during the last quarter. Grandview Asset Management LLC increased its holdings in Tesla by 12.4% during the fourth quarter. Grandview Asset Management LLC now owns 7,659 shares of the electric vehicle producer’s stock valued at $3,093,000 after buying an additional 844 shares during the last quarter. Dale Q Rice Investment Management Ltd purchased a new stake in Tesla during the fourth quarter valued at approximately $6,329,000. Finally, TPG Financial Advisors LLC increased its holdings in Tesla by 92.0% during the fourth quarter. TPG Financial Advisors LLC now owns 1,864 shares of the electric vehicle producer’s stock valued at $753,000 after buying an additional 893 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock worth $213,451,751 in the last ninety days. 20.70% of the stock is owned by company insiders.

Tesla Trading Down 1.7 %

Shares of NASDAQ TSLA opened at $396.36 on Wednesday. The business’s 50 day moving average price is $382.71 and its 200-day moving average price is $284.69. The company has a market cap of $1.27 trillion, a price-to-earnings ratio of 108.59, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSLA. Canaccord Genuity Group increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Evercore ISI increased their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $296.60.

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.