Concord Wealth Partners Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Concord Wealth Partners decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 93.3% in the 4th quarter, HoldingsChannel reports. The firm owned 103 shares of the electric vehicle producer’s stock after selling 1,439 shares during the quarter. Concord Wealth Partners’ holdings in Tesla were worth $42,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in Tesla in the third quarter valued at approximately $29,000. Clean Yield Group raised its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in Tesla in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. raised its position in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares during the last quarter. Finally, Mendota Financial Group LLC acquired a new position in Tesla in the 3rd quarter valued at $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 553,386 shares of company stock worth $196,305,796 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $392.21 on Wednesday. The stock has a market cap of $1.26 trillion, a P/E ratio of 192.26, a PEG ratio of 6.79 and a beta of 2.34. The stock has a 50 day simple moving average of $405.12 and a 200 day simple moving average of $300.65. 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, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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%. Research analysts anticipate that Tesla, Inc. will post 2.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TSLA. UBS Group upped their price target on shares of Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research note on Thursday, January 30th. Evercore ISI upped their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Truist Financial increased their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Barclays increased their price objective on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Nine analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $318.31.

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.