CCG Wealth Management LLC Acquires 585 Shares of Tesla, Inc. (NASDAQ:TSLA)

CCG Wealth Management LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,330 shares of the electric vehicle producer’s stock after purchasing an additional 585 shares during the quarter. Tesla comprises 1.2% of CCG Wealth Management LLC’s portfolio, making the stock its 19th largest position. CCG Wealth Management LLC’s holdings in Tesla were worth $2,152,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Transcendent Capital Group LLC purchased a new stake in Tesla during the 3rd quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after acquiring an additional 187 shares in the last quarter. Mendota Financial Group LLC purchased a new position in Tesla in the 3rd quarter worth approximately $64,000. Finally, Finley Financial LLC bought a new position in Tesla in the 4th quarter valued at approximately $64,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.0 %

Shares of TSLA stock opened at $374.32 on Friday. The stock has a market cap of $1.20 trillion, a P/E ratio of 183.49, a PEG ratio of 6.79 and a beta of 2.34. The company’s fifty day simple moving average is $407.11 and its two-hundred day simple moving average is $302.26. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts predict that Tesla, Inc. will post 2.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Piper Sandler boosted their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Glj Research reissued a “sell” rating and issued a $24.86 target price on shares of Tesla in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group increased their price objective on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $322.29.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 664,776 shares of company stock worth $239,746,862. 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.