Tesla, Inc. (NASDAQ:TSLA) Shares Sold by CCM Investment Advisers LLC

CCM Investment Advisers LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 14.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,014 shares of the electric vehicle producer’s stock after selling 5,069 shares during the quarter. CCM Investment Advisers LLC’s holdings in Tesla were worth $11,717,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TSLA. Valley Wealth Managers Inc. purchased a new stake in Tesla during the second quarter worth $26,000. Abich Financial Wealth Management LLC grew its holdings in 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 purchasing an additional 81 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter valued at approximately $29,000. Clean Yield Group increased its holdings in 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 in the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in Tesla during the third quarter worth $35,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on TSLA. Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and increased their target price for the company from $230.00 to $515.00 in a report on Tuesday, December 17th. Barclays upped their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Wells Fargo & Company lifted their target price on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Finally, KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a research note on Thursday, October 24th. 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 issued a strong buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $295.69.

Tesla Stock Performance

TSLA stock traded down $6.05 during trading on Friday, hitting $388.89. The company had a trading volume of 35,278,617 shares, compared to its average volume of 78,924,789. The firm has a 50-day moving average price of $373.68 and a 200-day moving average price of $279.12. 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 $1.25 trillion, a PE ratio of 106.55, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling at Tesla

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 transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla 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 transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by company insiders.

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.