Tesla, Inc. (NASDAQ:TSLA) Stock Position Decreased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,192 shares of the electric vehicle producer’s stock after selling 36,786 shares during the quarter. Tesla accounts for 0.7% of Exchange Traded Concepts LLC’s portfolio, making the stock its 20th largest holding. Exchange Traded Concepts LLC’s holdings in Tesla were worth $36,423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of TSLA. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter worth $29,000. Clean Yield Group boosted its stake in shares of Tesla by 60.0% during 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. Peterson Financial Group Inc. bought a new stake in shares of Tesla during the 3rd quarter worth $35,000. M&R Capital Management Inc. boosted its stake in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Tesla during the 2nd quarter worth $48,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research analyst reports. Evercore ISI lifted their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $313.84.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. This represents a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on 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 sale, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 617,886 shares of company stock worth $212,451,751. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 1.4 %

Tesla stock opened at $406.58 on Monday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market cap of $1.31 trillion, a price-to-earnings ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The business has a 50 day moving average price of $398.82 and a two-hundred day moving average price of $294.26. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

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.