CGN Advisors LLC Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

CGN Advisors LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 40.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 881 shares of the electric vehicle producer’s stock after selling 610 shares during the quarter. CGN Advisors LLC’s holdings in Tesla were worth $356,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TSLA. Premier Path Wealth Partners LLC raised its stake in shares of Tesla by 7.8% in the fourth quarter. Premier Path Wealth Partners LLC now owns 17,576 shares of the electric vehicle producer’s stock valued at $7,098,000 after buying an additional 1,279 shares during the period. Stonekeep Investments LLC increased its holdings in Tesla by 4.7% in the 4th quarter. Stonekeep Investments LLC now owns 13,249 shares of the electric vehicle producer’s stock worth $5,350,000 after acquiring an additional 599 shares during the last quarter. Howard Financial Services LTD. raised its stake in Tesla by 7.5% in the 4th quarter. Howard Financial Services LTD. now owns 5,587 shares of the electric vehicle producer’s stock valued at $2,256,000 after acquiring an additional 388 shares during the period. Verity & Verity LLC bought a new position in Tesla during the fourth quarter worth about $295,000. Finally, Integrated Investment Consultants LLC increased its stake in shares of Tesla by 10.3% in the fourth quarter. Integrated Investment Consultants LLC now owns 1,181 shares of the electric vehicle producer’s stock worth $477,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA opened at $426.50 on Monday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market cap of $1.37 trillion, a price-to-earnings ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $389.94 and a two-hundred day simple moving average of $288.49.

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. Research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. 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 90 days. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TSLA. Guggenheim raised their price objective on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a report on Thursday, December 5th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research report on Thursday, October 24th. Canaccord Genuity Group increased their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Finally, Stifel Nicolaus raised their price objective on shares of Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $299.33.

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.