Moseley Investment Management Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,514 shares of the electric vehicle producer's stock after selling 3,620 shares during the quarter. Tesla accounts for approximately 3.2% of Moseley Investment Management Inc.'s portfolio, making the stock its 10th largest holding. Moseley Investment Management Inc.'s holdings in Tesla were worth $8,284,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Abich Financial Wealth Management LLC boosted its position in Tesla by 168.8% in 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 last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the 3rd quarter worth about $29,000. Clean Yield Group grew its position in Tesla by 60.0% during the third 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. bought a new stake in Tesla in the third quarter worth about $35,000. Finally, M&R Capital Management Inc. lifted its stake in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.
Insider Buying and Selling at Tesla
In related news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the firm'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 sale, the director now owns 1,563,220 shares of the company's stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by company insiders.
Analyst Ratings Changes
TSLA has been the subject of a number of research reports. Cantor Fitzgerald increased their target price on shares of Tesla from $255.00 to $365.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Roth Mkm raised shares of Tesla from a "neutral" rating to a "buy" rating and boosted their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Oppenheimer reaffirmed a "market perform" rating on shares of Tesla in a report on Tuesday, October 8th. Canaccord Genuity Group boosted their price objective on Tesla from $298.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Finally, Sanford C. Bernstein restated an "underperform" rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Nine investment analysts have rated the stock with a sell rating, fifteen have issued 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.com, the stock has an average rating of "Hold" and a consensus price target of $299.33.
Check Out Our Latest Report on Tesla
Tesla Trading Down 3.4 %
TSLA traded down $14.40 on Thursday, hitting $413.82. 67,964,565 shares of the company were exchanged, compared to its average volume of 80,311,547. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a fifty day simple moving average of $385.50 and a two-hundred day simple moving average of $285.69. The stock has a market capitalization of $1.33 trillion, a PE ratio of 113.38, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (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 firm had revenue of $25.18 billion for the quarter, compared to analysts' expectations of $25.47 billion. During the same quarter last year, the business earned $0.53 earnings per share. The business's revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.
Tesla Company Profile
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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.
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