Strong Tower Advisory Services Sells 413 Shares of Tesla, Inc. (NASDAQ:TSLA)

Strong Tower Advisory Services lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 33,663 shares of the electric vehicle producer’s stock after selling 413 shares during the quarter. Tesla comprises 3.5% of Strong Tower Advisory Services’ investment portfolio, making the stock its 6th biggest holding. Strong Tower Advisory Services’ holdings in Tesla were worth $13,594,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Wealth Management Partners LLC raised its stake in Tesla by 14.6% during the 4th quarter. Wealth Management Partners LLC now owns 16,669 shares of the electric vehicle producer’s stock worth $6,732,000 after acquiring an additional 2,123 shares in the last quarter. LPF Advisors LLC purchased a new position in shares of Tesla during the fourth quarter worth about $220,000. M.E. Allison & CO. Inc. acquired a new stake in shares of Tesla during the fourth quarter worth about $295,000. Willner & Heller LLC purchased a new stake in shares of Tesla in the 4th quarter valued at about $288,000. Finally, Consolidated Capital Management LLC acquired a new stake in shares of Tesla in the 4th quarter valued at about $208,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. 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 90 days. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 0.6 %

Shares of NASDAQ:TSLA opened at $424.07 on Wednesday. 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 company has a market capitalization of $1.36 trillion, a P/E ratio of 116.18, a P/E/G ratio of 8.60 and a beta of 2.30. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock’s fifty day simple moving average is $391.47 and its 200-day simple moving average is $290.05.

Tesla (NASDAQ:TSLA) last released its earnings results 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. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays lifted their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group upped their price target on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Canaccord Genuity Group increased their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. Finally, Guggenheim increased their target price on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. Nine 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $304.94.

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.