Exchange Traded Concepts LLC Sells 36,786 Shares of Tesla, Inc. (NASDAQ:TSLA)

Exchange Traded Concepts LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 29.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 90,192 shares of the electric vehicle producer’s stock after selling 36,786 shares during the period. Tesla comprises approximately 0.7% of Exchange Traded Concepts LLC’s holdings, making the stock its 20th largest holding. Exchange Traded Concepts LLC’s holdings in Tesla were worth $36,423,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TSLA. Kathmere Capital Management LLC boosted its position in Tesla by 5.9% in the 2nd quarter. Kathmere Capital Management LLC now owns 1,247 shares of the electric vehicle producer’s stock valued at $247,000 after buying an additional 70 shares during the last quarter. Ascent Group LLC boosted its position in Tesla by 29.8% in the 2nd quarter. Ascent Group LLC now owns 12,854 shares of the electric vehicle producer’s stock valued at $2,544,000 after buying an additional 2,953 shares during the last quarter. Aviso Wealth Management boosted its position in Tesla by 0.6% in the 2nd quarter. Aviso Wealth Management now owns 12,089 shares of the electric vehicle producer’s stock valued at $2,392,000 after buying an additional 72 shares during the last quarter. Chicago Wealth Management Inc. boosted its position in Tesla by 2.5% in the 2nd quarter. Chicago Wealth Management Inc. now owns 3,075 shares of the electric vehicle producer’s stock valued at $608,000 after buying an additional 75 shares during the last quarter. Finally, Buck Wealth Strategies LLC bought a new position in Tesla in the 2nd quarter valued at $357,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 1.4 %

Tesla stock opened at $406.58 on Monday. 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 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.31 trillion, a P/E ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30. The stock has a 50-day simple moving average of $398.82 and a 200 day simple moving average of $294.26.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TSLA shares. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. Canaccord Genuity Group increased their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Robert W. Baird increased their price target on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $313.84.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 617,886 shares of company stock worth $212,451,751. Company 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.