Dakota Wealth Management Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Dakota Wealth Management reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,959 shares of the electric vehicle producer’s stock after selling 2,350 shares during the quarter. Dakota Wealth Management’s holdings in Tesla were worth $7,253,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the 3rd quarter valued at approximately $29,000. Clean Yield Group raised its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the 3rd quarter valued at $35,000. M&R Capital Management Inc. grew its holdings 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 purchasing an additional 100 shares during the period. Finally, Quarry LP acquired a new stake in shares of Tesla during the 2nd quarter worth about $48,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 1.4 %

Shares of TSLA stock opened at $406.58 on Friday. The firm’s 50-day simple moving average is $397.11 and its 200-day simple moving average is $292.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market cap of $1.31 trillion, a P/E ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 2.01 EPS for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % 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 valued at $212,451,751. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TSLA has been the subject of several research analyst reports. UBS Group increased their target price on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research note on Monday, January 6th. Finally, Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $230.00 to $515.00 in a report on Tuesday, December 17th. Eight 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 company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $313.84.

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.