Tesla, Inc. (NASDAQ:TSLA) Stake Reduced by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,876 shares of the electric vehicle producer’s stock after selling 876 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Tesla were worth $5,200,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Swedbank AB raised its holdings in Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after buying an additional 29,669 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in Tesla by 34.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock worth $1,087,000 after buying an additional 1,059 shares during the period. Osborne Partners Capital Management LLC acquired a new stake in Tesla during the 3rd quarter worth about $229,000. NorthCrest Asset Manangement LLC grew its stake in Tesla by 6.5% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 8,765 shares of the electric vehicle producer’s stock valued at $2,293,000 after acquiring an additional 536 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its stake in Tesla by 28.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 990 shares of the electric vehicle producer’s stock valued at $259,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 4.7 %

Shares of TSLA stock opened at $337.80 on Monday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a market cap of $1.09 trillion, a PE ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The stock has a 50 day moving average of $400.17 and a 200-day moving average of $314.04. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on TSLA shares. Jefferies Financial Group lifted their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Benchmark started coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price on the stock. Wedbush set a $328.50 target price on Tesla in a research note on Wednesday, February 12th. Evercore ISI lifted their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $319.57.

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.