Edge Financial Advisors LLC Has $809,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Edge Financial Advisors LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 9.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,004 shares of the electric vehicle producer’s stock after selling 220 shares during the quarter. Edge Financial Advisors LLC’s holdings in Tesla were worth $809,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the 3rd quarter worth about $29,000. Clean Yield Group grew its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new position in Tesla during the third quarter worth approximately $35,000. M&R Capital Management Inc. raised 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 buying an additional 100 shares during the period. Finally, Finley Financial LLC acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $64,000. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Tesla stock opened at $406.58 on Friday. The company has a market capitalization of $1.31 trillion, a PE ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $398.82 and a two-hundred day moving average price of $294.03. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. Analysts expect that Tesla, Inc. will post 2.01 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 617,886 shares of company stock worth $212,451,751. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several research reports. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. Cantor Fitzgerald raised their target price on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Wedbush raised their price objective on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $313.84.

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.