Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Clarity Wealth Advisors LLC

Clarity Wealth Advisors LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,468 shares of the electric vehicle producer’s stock after selling 100 shares during the period. Tesla comprises approximately 1.4% of Clarity Wealth Advisors LLC’s holdings, making the stock its 26th largest holding. Clarity Wealth Advisors LLC’s holdings in Tesla were worth $5,035,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the 3rd quarter valued at approximately $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares in the last quarter. Finley Financial LLC acquired a new stake in shares of Tesla during the 4th quarter valued at approximately $64,000. Finally, Abich Financial Wealth Management LLC lifted its stake in Tesla by 136.4% during the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock worth $80,000 after purchasing an additional 176 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s 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 sale, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 635,776 shares of company stock valued at $231,335,112. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on TSLA. Wells Fargo & Company raised their price objective on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, January 30th. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Jefferies Financial Group raised their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Guggenheim restated a “sell” rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $321.71.

Tesla Price Performance

NASDAQ:TSLA opened at $328.50 on Wednesday. The business’s 50-day moving average price is $408.14 and its 200 day moving average price is $305.46. The firm has a market cap of $1.06 trillion, a P/E ratio of 161.03, a PEG ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts predict that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

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.