Cherrydale Wealth Management LLC Has $701,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Cherrydale Wealth Management LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 76.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,736 shares of the electric vehicle producer’s stock after selling 5,583 shares during the quarter. Cherrydale Wealth Management LLC’s holdings in Tesla were worth $701,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Abich Financial Wealth Management LLC grew its position in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the period. Transcendent Capital Group LLC purchased a new position in Tesla during the 3rd quarter worth $29,000. Clean Yield Group increased its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Tesla during the third quarter worth $35,000. Finally, M&R Capital Management Inc. increased 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 buying an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $426.50 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market cap of $1.37 trillion, a P/E ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The business’s 50 day moving average price is $389.94 and its 200-day moving average price is $288.49. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the firm earned $0.53 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research 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 the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock valued at $213,451,751 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. HSBC reissued a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $299.33.

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.