Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Sterling Group Wealth Management LLC

Sterling Group Wealth Management LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,314 shares of the electric vehicle producer’s stock after selling 104 shares during the period. Tesla accounts for approximately 0.3% of Sterling Group Wealth Management LLC’s portfolio, making the stock its 28th biggest holding. Sterling Group Wealth Management LLC’s holdings in Tesla were worth $531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in Tesla in the 3rd quarter valued at $29,000. Clean Yield Group raised its holdings in shares of 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 buying an additional 48 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the third quarter worth about $35,000. M&R Capital Management Inc. grew its holdings in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Finally, Quarry LP acquired a new position in Tesla in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $406.58 on Monday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a 50 day simple moving average of $398.82 and a 200-day simple moving average of $294.26. The firm has a market cap of $1.31 trillion, a PE ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research report on Thursday, October 24th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Finally, New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a report on Monday, January 6th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $313.84.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $300.37, for a total value of $2,402,960.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $31,548,461.84. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 617,886 shares of company stock worth $212,451,751. Insiders own 20.70% of the company’s stock.

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.