Checchi Capital Advisers LLC Sells 2,505 Shares of Tesla, Inc. (NASDAQ:TSLA)

Checchi Capital Advisers LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 43,336 shares of the electric vehicle producer’s stock after selling 2,505 shares during the period. Tesla makes up about 1.0% of Checchi Capital Advisers LLC’s investment portfolio, making the stock its 13th biggest position. Checchi Capital Advisers LLC’s holdings in Tesla were worth $17,501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter worth about $29,000. Peterson Financial Group Inc. bought a new position in shares of Tesla during the 3rd quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla during the 4th quarter worth about $46,000. PayPay Securities Corp lifted its holdings in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares during the period. Finally, Finley Financial LLC acquired a new stake in shares of Tesla during the 4th quarter worth about $64,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 4.0 %

Tesla stock opened at $293.33 on Friday. The company’s 50 day simple moving average is $385.35 and its 200 day simple moving average is $315.95. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market capitalization of $943.49 billion, a price-to-earnings ratio of 143.79, a PEG ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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 anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. The trade was a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 in the last 90 days. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TSLA shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Wells Fargo & Company increased their target price on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a research report on Tuesday, February 18th. Finally, Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Ten research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $318.77.

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.