CCG Wealth Management LLC Has $1.24 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

CCG Wealth Management LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 27.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,745 shares of the electric vehicle producer’s stock after selling 1,774 shares during the period. Tesla accounts for approximately 0.7% of CCG Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position. CCG Wealth Management LLC’s holdings in Tesla were worth $1,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new position in Tesla during the second quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% during the 2nd 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. Clean Yield Group boosted its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Finally, M&R Capital Management Inc. grew 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 valued at $36,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TSLA shares. Royal Bank of Canada boosted their price objective on shares of Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Barclays lowered their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research report on Monday, October 7th. KGI Securities reaffirmed a “neutral” rating and issued a $236.00 target price on shares of Tesla in a report on Thursday, July 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $210.72.

Tesla Trading Up 0.2 %

TSLA opened at $219.57 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business has a 50 day simple moving average of $226.22 and a two-hundred day simple moving average of $204.57. The firm has a market capitalization of $700.25 billion, a price-to-earnings ratio of 56.01, a PEG ratio of 6.48 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts predict that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 over the last ninety days. 25.10% of the stock is 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.