Legacy Financial Strategies LLC Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

Legacy Financial Strategies LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,228 shares of the electric vehicle producer’s stock after selling 76 shares during the period. Legacy Financial Strategies LLC’s holdings in Tesla were worth $1,604,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Essex LLC boosted its stake in Tesla by 21.6% during the fourth quarter. Essex LLC now owns 1,093 shares of the electric vehicle producer’s stock valued at $441,000 after buying an additional 194 shares during the last quarter. Quotient Wealth Partners LLC raised its holdings in shares of Tesla by 10.1% during the 4th quarter. Quotient Wealth Partners LLC now owns 11,014 shares of the electric vehicle producer’s stock worth $4,448,000 after acquiring an additional 1,011 shares in the last quarter. Alliance Wealth Advisors LLC bought a new position in shares of Tesla during the 4th quarter valued at approximately $326,000. Investment Advisory Services Inc. TX ADV purchased a new position in shares of Tesla in the fourth quarter valued at $210,000. Finally, Birch Hill Investment Advisors LLC increased its position in Tesla by 60.5% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 2,333 shares of the electric vehicle producer’s stock worth $942,000 after purchasing an additional 879 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now directly 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 a total of 635,776 shares of company stock valued at $231,335,112 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of TSLA opened at $336.51 on Thursday. The stock has a market capitalization of $1.08 trillion, a PE ratio of 164.96, a PEG ratio of 6.22 and a beta of 2.34. The company has a 50 day moving average price of $407.68 and a 200-day moving average price of $306.23. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. Equities analysts predict that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TSLA shares. UBS Group increased their price objective on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Evercore ISI increased their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research note on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $440.00 target price on shares of Tesla in a report on Thursday, January 30th. Finally, Benchmark initiated coverage on Tesla in a report on Wednesday. They set a “buy” rating and a $475.00 price target on the stock. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $326.50.

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.