Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. lowered its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 15.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 713 shares of the electric vehicle producer’s stock after selling 135 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in Tesla were worth $288,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Abich Financial Wealth Management LLC increased its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter worth approximately $29,000. Clean Yield Group boosted its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter worth $35,000. Finally, M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TSLA has been the subject of several analyst reports. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $230.00 to $515.00 in a report on Tuesday, December 17th. The Goldman Sachs Group raised their target price on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Morgan Stanley boosted their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday. Canaccord Genuity Group raised their price objective on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Truist Financial reissued a “hold” rating and issued a $360.00 target price on shares of Tesla in a report on Thursday, January 2nd. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $296.60.

View Our Latest Stock Report on TSLA

Tesla Price Performance

Shares of NASDAQ TSLA traded down $2.04 during trading on Monday, hitting $392.70. 53,607,610 shares of the company were exchanged, compared to its average volume of 79,029,883. The firm’s fifty day moving average price is $376.60 and its 200 day moving average price is $281.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market cap of $1.26 trillion, a price-to-earnings ratio of 107.59, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Tesla Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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