Clarius Group LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Clarius Group LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,983 shares of the electric vehicle producer’s stock after selling 2,737 shares during the quarter. Tesla accounts for about 0.8% of Clarius Group LLC’s holdings, making the stock its 22nd largest position. Clarius Group LLC’s holdings in Tesla were worth $11,705,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Oak Ridge Investments LLC increased its holdings in shares of Tesla by 6.0% in the fourth quarter. Oak Ridge Investments LLC now owns 40,815 shares of the electric vehicle producer’s stock worth $16,483,000 after purchasing an additional 2,312 shares during the period. GenWealth Group Inc. purchased a new position in shares of Tesla during the fourth quarter worth about $213,000. Aaron Wealth Advisors LLC increased its position in shares of Tesla by 25.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 13,410 shares of the electric vehicle producer’s stock worth $5,415,000 after purchasing an additional 2,680 shares during the last quarter. Whitaker Myers Wealth Managers LTD. raised its stake in Tesla by 4.2% in the fourth quarter. Whitaker Myers Wealth Managers LTD. now owns 4,529 shares of the electric vehicle producer’s stock valued at $1,829,000 after purchasing an additional 183 shares in the last quarter. Finally, BNC Wealth Management LLC grew its stake in Tesla by 2.1% in the 4th quarter. BNC Wealth Management LLC now owns 40,946 shares of the electric vehicle producer’s stock worth $16,536,000 after buying an additional 843 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $230.00 to $515.00 in a research report on Tuesday, December 17th. Evercore ISI upped their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Cantor Fitzgerald raised their price objective on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Barclays lifted their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $299.33.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $426.50 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a 50 day simple moving average of $389.94 and a two-hundred day simple moving average of $288.78. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock worth $213,451,751 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla 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.