Ibex Wealth Advisors Sells 1,835 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ibex Wealth Advisors lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.5% in the 4th quarter, Holdings Channel reports. The firm owned 10,000 shares of the electric vehicle producer’s stock after selling 1,835 shares during the period. Ibex Wealth Advisors’ holdings in Tesla were worth $4,038,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Invesco LLC purchased a new position in shares of Tesla in the 4th quarter worth $214,000. Swedbank AB grew its position in Tesla by 2.8% in the fourth quarter. Swedbank AB now owns 1,129,432 shares of the electric vehicle producer’s stock worth $456,110,000 after acquiring an additional 30,715 shares in the last quarter. Allen Capital Group LLC raised its position in Tesla by 4.3% during the fourth quarter. Allen Capital Group LLC now owns 4,309 shares of the electric vehicle producer’s stock valued at $1,740,000 after purchasing an additional 179 shares during the period. Strategic Blueprint LLC lifted its stake in shares of Tesla by 8.5% in the 4th quarter. Strategic Blueprint LLC now owns 15,837 shares of the electric vehicle producer’s stock valued at $6,396,000 after purchasing an additional 1,246 shares during the last quarter. Finally, Masso Torrence Wealth Management Inc. boosted its holdings in shares of Tesla by 7.2% in the 4th quarter. Masso Torrence Wealth Management Inc. now owns 5,717 shares of the electric vehicle producer’s stock worth $2,309,000 after purchasing an additional 384 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’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 sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 553,386 shares of company stock valued at $196,305,796 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

TSLA opened at $404.60 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a 50 day moving average of $404.22 and a two-hundred day moving average of $299.34. The firm has a market capitalization of $1.30 trillion, a PE ratio of 198.33, a P/E/G ratio of 8.08 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued 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 10.54% and a net margin of 7.26%. On average, analysts anticipate that Tesla, Inc. will post 2.82 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of analyst reports. Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $380.00 in a report on Monday, December 2nd. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $318.31.

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.