Wheelhouse Advisory Group LLC Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Wheelhouse Advisory Group LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,081 shares of the electric vehicle producer's stock after selling 736 shares during the quarter. Tesla accounts for approximately 0.8% of Wheelhouse Advisory Group LLC's investment portfolio, making the stock its 17th biggest holding. Wheelhouse Advisory Group LLC's holdings in Tesla were worth $1,244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC purchased a new position in Tesla in the third quarter valued at $29,000. Clean Yield Group grew its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after acquiring an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of Tesla in the 3rd quarter valued at about $35,000. M&R Capital Management Inc. raised its holdings 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 during the period. Finally, Finley Financial LLC purchased a new position in Tesla during the fourth quarter worth approximately $64,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on TSLA shares. Wedbush boosted their price objective on Tesla from $515.00 to $550.00 and gave the company an "outperform" rating in a research report on Wednesday, January 22nd. Guggenheim upped their price objective on shares of Tesla from $156.00 to $175.00 and gave the stock a "sell" rating in a research report on Thursday, December 5th. Phillip Securities downgraded shares of Tesla from a "moderate sell" rating to a "strong sell" rating in a report on Wednesday, November 13th. Mizuho raised shares of Tesla from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $230.00 to $515.00 in a research note on Tuesday, December 17th. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Tesla in a research note on Tuesday, October 8th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $313.84.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. The trade was a 3.67 % 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 Kimbal Musk sold 60,500 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, 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. In the last three months, insiders have sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is currently owned by insiders.

Tesla Trading Down 2.3 %

NASDAQ TSLA traded down $9.43 during trading hours on Monday, reaching $397.15. The company had a trading volume of 57,884,790 shares, compared to its average volume of 75,735,914. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 108.81, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The stock has a 50-day moving average of $398.82 and a 200 day moving average of $294.47. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

About Tesla

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.