M3 Advisory Group LLC Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

M3 Advisory Group LLC lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,274 shares of the electric vehicle producer’s stock after selling 124 shares during the quarter. Tesla makes up approximately 0.9% of M3 Advisory Group LLC’s holdings, making the stock its 24th biggest position. M3 Advisory Group LLC’s holdings in Tesla were worth $1,322,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TSLA. World Investment Advisors LLC raised its stake in shares of Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares during the period. Destination Wealth Management increased its holdings in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after acquiring an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd raised its stake in Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares during the period. MML Investors Services LLC lifted its holdings in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 0.3 %

Shares of TSLA opened at $398.31 on Wednesday. The firm has a market capitalization of $1.28 trillion, a P/E ratio of 109.13, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a fifty day moving average price of $399.99 and a 200-day moving average price of $295.57. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction 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 transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock worth $212,451,751 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on TSLA shares. Robert W. Baird raised their price objective on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Jefferies Financial Group boosted their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. UBS Group increased their target price on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. Stifel Nicolaus boosted their price target on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, HSBC restated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $313.84.

Tesla 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.