CCM Investment Advisers LLC Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

CCM Investment Advisers LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 14.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,014 shares of the electric vehicle producer’s stock after selling 5,069 shares during the quarter. CCM Investment Advisers LLC’s holdings in Tesla were worth $11,717,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of TSLA. ST Germain D J Co. Inc. increased its holdings in shares of Tesla by 7.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,259 shares of the electric vehicle producer’s stock worth $508,000 after buying an additional 90 shares during the last quarter. Weybosset Research & Management LLC purchased a new position in shares of Tesla in the 4th quarter worth about $277,000. ORG Partners LLC grew its holdings in shares of Tesla by 2.3% during the 4th quarter. ORG Partners LLC now owns 27,440 shares of the electric vehicle producer’s stock worth $11,081,000 after purchasing an additional 628 shares during the period. Baker Tilly Wealth Management LLC increased its position in Tesla by 5.9% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 11,626 shares of the electric vehicle producer’s stock worth $4,695,000 after purchasing an additional 648 shares in the last quarter. Finally, Marotta Asset Management acquired a new position in Tesla during the fourth quarter valued at approximately $358,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TSLA. Morgan Stanley upped their price target on shares of Tesla from $310.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Royal Bank of Canada boosted their target price on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Wedbush reissued an “outperform” rating and issued a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Barclays boosted their target price on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Glj Research reissued a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Friday, January 3rd. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $295.69.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

NASDAQ:TSLA traded down $6.05 on Friday, hitting $388.89. The company’s stock had a trading volume of 35,278,617 shares, compared to its average volume of 78,924,789. The stock has a fifty day moving average of $373.68 and a two-hundred day moving average of $279.12. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a market capitalization of $1.25 trillion, a P/E ratio of 106.55, a price-to-earnings-growth ratio of 10.80 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 (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. Research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

About Tesla

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.