Zhang Financial LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Zhang Financial LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.5% during the 4th quarter, HoldingsChannel reports. The firm owned 6,052 shares of the electric vehicle producer’s stock after selling 286 shares during the period. Zhang Financial LLC’s holdings in Tesla were worth $2,444,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Lee Johnson Capital Management LLC lifted its position in shares of Tesla by 1.7% during the fourth quarter. Lee Johnson Capital Management LLC now owns 16,385 shares of the electric vehicle producer’s stock valued at $6,617,000 after buying an additional 270 shares during the last quarter. McCarthy & Cox acquired a new position in Tesla in the 4th quarter worth approximately $269,000. Flower City Capital increased its holdings in Tesla by 15.2% in the 4th quarter. Flower City Capital now owns 961 shares of the electric vehicle producer’s stock worth $388,000 after buying an additional 127 shares during the period. UMB Bank n.a. grew its stake in shares of Tesla by 31.7% during the 4th quarter. UMB Bank n.a. now owns 151,336 shares of the electric vehicle producer’s stock worth $61,116,000 after purchasing an additional 36,409 shares during the period. Finally, BlueSky Wealth Advisors LLC acquired a new stake in shares of Tesla during the 4th quarter worth approximately $244,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Friday, December 6th. The stock was 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 in the company, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock valued at $212,451,751 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Down 2.1 %

Shares of NASDAQ:TSLA opened at $415.11 on Thursday. The stock’s 50-day moving average price is $393.38 and its two-hundred day moving average price is $291.27. 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, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a market cap of $1.33 trillion, a price-to-earnings ratio of 113.73, a PEG ratio of 8.60 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.53 EPS. On average, research analysts forecast that Tesla, Inc. will post 2.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSLA. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Wedbush boosted their price target on shares of Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their price target on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group upped their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $309.48.

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.