Tesla, Inc. (NASDAQ:TSLA) Position Trimmed by Altus Wealth Management LLC

Altus Wealth Management LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 21.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 839 shares of the electric vehicle producer’s stock after selling 224 shares during the quarter. Altus Wealth Management LLC’s holdings in Tesla were worth $339,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Transcendent Capital Group LLC bought a new stake in Tesla in the third quarter valued at $29,000. Clean Yield Group increased its holdings in shares of 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 acquiring an additional 48 shares during the period. Peterson Financial Group Inc. bought a new stake in Tesla in the 3rd quarter valued at about $35,000. M&R Capital Management Inc. lifted its position 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 valued at $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Quarry LP acquired a new position in Tesla during the 2nd quarter valued at about $48,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of TSLA opened at $400.28 on Friday. The business’s 50-day moving average is $401.98 and its 200-day moving average is $297.28. 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 has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 109.67, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 13.07% and a return on equity of 10.24%. Equities research analysts expect that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. UBS Group boosted their price objective on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research report on Thursday. The Goldman Sachs Group increased their price target on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Jefferies Financial Group lifted their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Glj Research reiterated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research report on Friday, January 3rd. Finally, Canaccord Genuity Group raised their target price on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Eight research analysts have rated the stock with a sell rating, fourteen have assigned 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.com, Tesla has a consensus rating of “Hold” and a consensus price target of $318.31.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $31,548,461.84. The trade was a 7.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 553,386 shares of company stock worth $196,305,796 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

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.