M3 Advisory Group LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,127 shares of the electric vehicle producer’s stock after selling 147 shares during the quarter. M3 Advisory Group LLC’s holdings in Tesla were worth $810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC lifted its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. raised its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. lifted its stake in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC purchased a new position in shares of Tesla in the 4th quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla during the 4th quarter valued at about $38,000. 66.20% of the stock is currently owned by institutional investors.
Tesla Stock Performance
Tesla stock opened at $322.16 on Monday. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock’s 50 day simple moving average is $306.22 and its two-hundred day simple moving average is $331.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.01, a PEG ratio of 12.05 and a beta of 2.47.
Insider Buying and Selling at Tesla
In related news, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of research firms recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft dropped their target price on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. UBS Group reduced their target price on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a research note on Friday. Finally, Benchmark restated a “buy” rating and set a $350.00 price target on shares of Tesla in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $293.67.
Read Our Latest Analysis on Tesla
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.
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