Red Spruce Capital LLC Sells 248 Shares of Tesla, Inc. (NASDAQ:TSLA)

Red Spruce Capital LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 12.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,715 shares of the electric vehicle producer’s stock after selling 248 shares during the quarter. Red Spruce Capital LLC’s holdings in Tesla were worth $693,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter valued at approximately $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. Abich Financial Wealth Management LLC lifted its position in 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 in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Tesla in the 3rd quarter valued at about $35,000. Finally, M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s 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 transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, 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 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $412.38 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.32 trillion, a PE ratio of 112.98, a price-to-earnings-growth ratio of 8.55 and a beta of 2.30. The stock’s fifty day simple moving average is $395.08 and its two-hundred day simple moving average is $292.13.

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, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Friday, January 3rd. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Jefferies Financial Group lifted their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. UBS Group raised their price objective on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday, November 25th. Finally, Robert W. Baird increased their target price on shares of Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Nine equities 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $309.48.

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.