Ellenbecker Investment Group Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Ellenbecker Investment Group reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,467 shares of the electric vehicle producer’s stock after selling 258 shares during the period. Ellenbecker Investment Group’s holdings in Tesla were worth $996,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter valued at $29,000. Clean Yield Group lifted its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter valued at about $35,000. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 2.2 %

Shares of Tesla stock opened at $403.31 on Tuesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The business’s fifty day moving average is $379.81 and its two-hundred day moving average is $283.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.29 trillion, a PE ratio of 110.50, a P/E/G ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. Analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling

In related 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 value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 621,886 shares of company stock valued at $213,451,751. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TSLA. Robert W. Baird lifted their price objective on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. HSBC restated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Wells Fargo & Company increased their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $296.60.

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.