Focus Financial Network Inc. Sells 552 Shares of Tesla, Inc. (NASDAQ:TSLA)

Focus Financial Network Inc. decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,797 shares of the electric vehicle producer’s stock after selling 552 shares during the quarter. Focus Financial Network Inc.’s holdings in Tesla were worth $8,803,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in Tesla during the third quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. increased its position 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 purchasing an additional 187 shares during the period. Finley Financial LLC acquired a new position in Tesla in the fourth quarter valued at about $64,000. Finally, Abich Financial Wealth Management LLC lifted its position in Tesla by 136.4% during the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock worth $80,000 after purchasing an additional 176 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $30,095,100. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TSLA. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $440.00 price target on shares of Tesla in a research note on Thursday, January 30th. Barclays upped their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Finally, New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $326.50.

Tesla Price Performance

Tesla stock opened at $355.84 on Friday. The stock has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 174.43, a PEG ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock’s 50 day moving average price is $406.98 and its two-hundred day moving average price is $306.79.

Tesla (NASDAQ:TSLA) last posted 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts predict that Tesla, Inc. will post 2.54 earnings per share for the current year.

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.