Absher Wealth Management LLC Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Absher Wealth Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 70.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 507 shares of the electric vehicle producer’s stock after selling 1,199 shares during the quarter. Absher Wealth Management LLC’s holdings in Tesla were worth $205,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Matrix Asset Advisors Inc. NY purchased a new stake in shares of Tesla during the third quarter valued at $218,000. Westend Capital Management LLC boosted its position in Tesla by 39,624.7% in the 3rd quarter. Westend Capital Management LLC now owns 32,177 shares of the electric vehicle producer’s stock valued at $8,418,000 after buying an additional 32,096 shares during the period. Retirement Planning Group LLC grew its stake in Tesla by 16.1% in the 3rd quarter. Retirement Planning Group LLC now owns 1,392 shares of the electric vehicle producer’s stock worth $364,000 after acquiring an additional 193 shares in the last quarter. Carnegie Investment Counsel increased its position in shares of Tesla by 29.6% during the third quarter. Carnegie Investment Counsel now owns 6,630 shares of the electric vehicle producer’s stock worth $1,735,000 after acquiring an additional 1,515 shares during the period. Finally, MorganRosel Wealth Management LLC boosted its holdings in shares of Tesla by 8.0% in the third quarter. MorganRosel Wealth Management LLC now owns 2,700 shares of the electric vehicle producer’s stock valued at $706,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 560,776 shares of company stock worth $203,744,862 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 3.4 %

Tesla stock opened at $361.62 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.16 trillion, a PE ratio of 177.27, a P/E/G ratio of 6.22 and a beta of 2.34. The stock’s 50 day simple moving average is $408.27 and its two-hundred day simple moving average is $303.93. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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%. Analysts anticipate that Tesla, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research reports. Piper Sandler raised their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Glj Research restated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Nine 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $322.29.

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.