Alterity Financial Group LLC Sells 102 Shares of Tesla, Inc. (NASDAQ:TSLA)

Alterity Financial Group LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,945 shares of the electric vehicle producer’s stock after selling 102 shares during the period. Tesla comprises about 1.4% of Alterity Financial Group LLC’s portfolio, making the stock its 21st biggest position. Alterity Financial Group LLC’s holdings in Tesla were worth $980,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Yarger Wealth Strategies LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $200,000. Elwood & Goetz Wealth Advisory Group LLC increased its stake in shares of Tesla by 9.4% in the fourth quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 1,581 shares of the electric vehicle producer’s stock valued at $393,000 after buying an additional 136 shares during the period. Transform Wealth LLC raised its position in shares of Tesla by 16.3% during the fourth quarter. Transform Wealth LLC now owns 4,683 shares of the electric vehicle producer’s stock worth $1,164,000 after acquiring an additional 657 shares during the last quarter. Johnson Bixby & Associates LLC lifted its stake in shares of Tesla by 9.3% in the fourth quarter. Johnson Bixby & Associates LLC now owns 2,925 shares of the electric vehicle producer’s stock worth $727,000 after acquiring an additional 250 shares during the period. Finally, Successful Portfolios LLC acquired a new stake in Tesla during the 4th quarter valued at approximately $289,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSLA. The Goldman Sachs Group lowered their target price on shares of Tesla from $220.00 to $190.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Guggenheim upped their target price on Tesla from $125.00 to $132.00 and gave the company a “sell” rating in a research report on Friday, December 15th. Sanford C. Bernstein lowered their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, January 26th. Finally, Wells Fargo & Company downgraded shares of Tesla from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $200.00 to $125.00 in a research report on Wednesday, March 13th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $204.63.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 198,598 shares of company stock valued at $36,952,434 in the last quarter. Corporate insiders own 25.10% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $175.79 on Friday. Tesla, Inc. has a 12 month low of $152.37 and a 12 month high of $299.29. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $559.85 billion, a P/E ratio of 40.79, a price-to-earnings-growth ratio of 4.06 and a beta of 2.41. The firm has a 50 day moving average of $187.78 and a 200-day moving average of $222.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 2.44 earnings per share for the current fiscal year.

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.