Clarity Wealth Advisors LLC Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Clarity Wealth Advisors LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,468 shares of the electric vehicle producer’s stock after selling 100 shares during the period. Tesla makes up about 1.4% of Clarity Wealth Advisors LLC’s holdings, making the stock its 26th biggest position. Clarity Wealth Advisors LLC’s holdings in Tesla were worth $5,035,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the 3rd quarter worth $35,000. Finley Financial LLC purchased a new stake in shares of Tesla during the 4th quarter worth $64,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Tesla by 692.6% during the 3rd 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 in the last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of Tesla during the 4th quarter worth $91,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Barclays lifted their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Robert W. Baird cut their price target on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Finally, New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday, January 6th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $321.71.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 635,776 shares of company stock worth $231,335,112. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Down 6.3 %

Shares of NASDAQ:TSLA opened at $328.50 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a market capitalization of $1.06 trillion, a P/E ratio of 161.03, a PEG ratio of 6.22 and a beta of 2.34. The stock has a 50-day simple moving average of $408.14 and a 200-day simple moving average of $305.46.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. Equities analysts forecast 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.