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

MBE Wealth Management LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 22.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 730 shares of the electric vehicle producer’s stock after selling 210 shares during the period. MBE Wealth Management LLC’s holdings in Tesla were worth $295,000 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 purchased a new position in shares of Tesla in the third quarter valued at $29,000. Clean Yield Group boosted 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 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 valued at about $35,000. Finley Financial LLC purchased a new stake in shares of Tesla during the fourth quarter worth about $64,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $404.60 on Friday. The stock’s fifty day simple moving average is $403.18 and its 200-day simple moving average is $297.99. The company has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 198.33, a P/E/G ratio of 8.08 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 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 issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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 10.54%. On average, sell-side analysts predict that Tesla, Inc. will post 2.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TSLA shares. Canaccord Genuity Group upped their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Morgan Stanley increased their price objective on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $440.00 target price on shares of Tesla in a research report on Thursday. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Nine investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $318.31.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 553,386 shares of company stock worth $196,305,796 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

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.