IVC Wealth Advisors LLC Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

IVC Wealth Advisors LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,326 shares of the electric vehicle producer’s stock after selling 177 shares during the period. IVC Wealth Advisors LLC’s holdings in Tesla were worth $939,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in Tesla during the third quarter valued at $29,000. Clean Yield Group boosted its holdings in shares of Tesla by 60.0% during 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 position in shares of Tesla during the third quarter valued at about $35,000. M&R Capital Management Inc. increased its holdings in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Tesla in the second quarter worth about $48,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 1.4 %

NASDAQ TSLA opened at $406.58 on Friday. The company’s 50-day simple moving average is $398.82 and its two-hundred day simple moving average is $294.03. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. Tesla’s revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $230.00 to $515.00 in a research note on Tuesday, December 17th. Barclays boosted their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Robert W. Baird lifted their price objective on shares of Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Jefferies Financial Group increased their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Wedbush boosted their price objective on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $313.84.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 617,886 shares of company stock valued at $212,451,751. Corporate insiders own 20.70% of the company’s stock.

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.