Aspen Wealth Strategies LLC Has $855,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Aspen Wealth Strategies LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.5% during the 4th quarter, HoldingsChannel reports. The firm owned 2,117 shares of the electric vehicle producer’s stock after selling 148 shares during the quarter. Aspen Wealth Strategies LLC’s holdings in Tesla were worth $855,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Tesla during the fourth quarter worth about $46,000. Parkworth Wealth Management Inc. acquired a new stake in Tesla during the fourth quarter worth about $47,000. PayPay Securities Corp grew its position in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares in the last quarter. Rialto Wealth Management LLC bought a new position in Tesla during the fourth quarter worth about $55,000. Finally, Finley Financial LLC bought a new position in shares of Tesla in the fourth quarter valued at approximately $64,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 4.8 %

TSLA opened at $238.01 on Tuesday. The stock has a market capitalization of $765.56 billion, a P/E ratio of 116.67, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm’s fifty day simple moving average is $347.85 and its 200 day simple moving average is $320.53. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Evercore ISI boosted their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Bank of America dropped their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Finally, Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $323.00.

About Tesla

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.