Onyx Bridge Wealth Group LLC Sells 171 Shares of Tesla, Inc. (NASDAQ:TSLA)

Onyx Bridge Wealth Group LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,534 shares of the electric vehicle producer’s stock after selling 171 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Tesla were worth $3,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. purchased a new position in shares of Tesla in the third quarter worth $35,000. Finley Financial LLC purchased a new position in Tesla during the fourth quarter valued at $64,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after acquiring an additional 187 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in shares of Tesla during the 4th quarter valued at about $91,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 3.4 %

Shares of Tesla stock opened at $361.62 on Monday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm’s 50 day moving average price is $408.27 and its 200-day moving average price is $303.93. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.16 trillion, a P/E ratio of 177.27, a PEG ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts predict that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. This represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated 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 sale, the chief financial officer now directly 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. Over the last 90 days, insiders sold 560,776 shares of company stock valued at $203,744,862. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Wedbush raised their target price on shares of Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Barclays upped their price target on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Finally, UBS Group boosted their target price on shares of Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a report on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $322.29.

Tesla Company 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.