Opes Wealth Management LLC Sells 474 Shares of Tesla, Inc. (NASDAQ:TSLA)

Opes Wealth Management LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 34.3% in the fourth quarter, HoldingsChannel reports. The firm owned 908 shares of the electric vehicle producer’s stock after selling 474 shares during the quarter. Opes Wealth Management LLC’s holdings in Tesla were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in Tesla during the third quarter worth $29,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla during the fourth quarter worth $46,000. PayPay Securities Corp boosted 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 purchasing an additional 69 shares during the period. Peterson Financial Group Inc. bought a new position in Tesla during the third quarter worth $35,000. Finally, Finley Financial LLC bought a new position in Tesla during the fourth quarter worth $64,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their target price on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Canaccord Genuity Group boosted their target price on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a research report on Thursday, October 24th. Benchmark assumed coverage on shares of Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price for the company. Finally, UBS Group boosted their target price on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $326.50.

Get Our Latest Report on TSLA

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 over the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $360.56 on Thursday. The business has a 50 day moving average of $403.41 and a 200-day moving average of $311.13. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a market capitalization of $1.16 trillion, a P/E ratio of 176.75, a P/E/G ratio of 5.89 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:TSLAGet Free Report) last announced its earnings results 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%. On average, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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