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

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

Other institutional investors and hedge funds also recently bought and sold shares of the company. Abich Financial Wealth Management LLC boosted its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter worth approximately $29,000. Clean Yield Group lifted its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in Tesla in the 3rd quarter worth approximately $35,000. Finally, M&R Capital Management Inc. lifted its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on TSLA shares. Barclays increased their target price on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group increased their target price on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. HSBC restated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Finally, Cantor Fitzgerald raised their price objective on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $296.60.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 621,886 shares of company stock worth $213,451,751. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 1.7 %

NASDAQ:TSLA opened at $396.36 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. 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’s 50-day simple moving average is $382.71 and its 200 day simple moving average is $284.69. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 108.59, a PEG ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last posted 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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.