Cherry Creek Investment Advisors Inc. Sells 224 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cherry Creek Investment Advisors Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 22.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 762 shares of the electric vehicle producer’s stock after selling 224 shares during the quarter. Cherry Creek Investment Advisors Inc.’s holdings in Tesla were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Foundations Investment Advisors LLC lifted its stake in shares of Tesla by 4.1% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,101 shares of the electric vehicle producer’s stock valued at $14,579,000 after buying an additional 1,407 shares in the last quarter. tru Independence LLC purchased a new position in shares of Tesla in the fourth quarter valued at about $233,000. Cornell Pochily Investment Advisors Inc. boosted its stake in shares of Tesla by 10.0% in the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 3,639 shares of the electric vehicle producer’s stock worth $1,469,000 after acquiring an additional 330 shares during the period. Summit Financial Strategies Inc. grew its position in shares of Tesla by 14.0% during the fourth quarter. Summit Financial Strategies Inc. now owns 10,772 shares of the electric vehicle producer’s stock worth $4,350,000 after purchasing an additional 1,321 shares in the last quarter. Finally, Heartland Bank & Trust Co lifted its holdings in Tesla by 0.8% in the 4th quarter. Heartland Bank & Trust Co now owns 6,286 shares of the electric vehicle producer’s stock worth $2,539,000 after purchasing an additional 49 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Canaccord Genuity Group increased their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $318.31.

Tesla Stock Performance

Tesla stock opened at $400.28 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a market capitalization of $1.28 trillion, a PE ratio of 109.67, a P/E/G ratio of 8.42 and a beta of 2.30. The company has a 50 day moving average price of $401.98 and a 200-day moving average price of $297.28. 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 issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. As a group, equities analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $31,548,461.84. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 553,386 shares of company stock worth $196,305,796 in the last three months. 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.