Cedar Mountain Advisors LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Cedar Mountain Advisors LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,668 shares of the electric vehicle producer’s stock after selling 73 shares during the quarter. Cedar Mountain Advisors LLC’s holdings in Tesla were worth $1,077,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TSLA. Transcendent Capital Group LLC bought a new position in shares of Tesla during the third quarter valued at about $29,000. Clean Yield Group raised its position in 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 stake in Tesla in the 3rd quarter worth approximately $35,000. M&R Capital Management Inc. grew its position in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Finally, Finley Financial LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 617,886 shares of company stock valued at $212,451,751. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TSLA. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and lifted their price target for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price target 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. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Canaccord Genuity Group increased their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Wedbush upped their price target on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $313.84.

Tesla Trading Down 2.3 %

NASDAQ:TSLA opened at $397.15 on Tuesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The business has a fifty day moving average price of $398.82 and a 200-day moving average price of $294.47. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.81, 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 current ratio of 1.84 and a quick ratio of 1.37.

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.