Channel Wealth LLC Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Channel Wealth LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the 4th quarter, HoldingsChannel reports. The firm owned 5,062 shares of the electric vehicle producer’s stock after selling 315 shares during the period. Channel Wealth LLC’s holdings in Tesla were worth $2,044,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. lifted its stake in Tesla by 131.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 31,916 shares of the electric vehicle producer’s stock worth $6,315,000 after acquiring an additional 18,103 shares during the last quarter. Bridges Investment Management Inc. raised its holdings in shares of Tesla by 17.3% in the 2nd quarter. Bridges Investment Management Inc. now owns 12,710 shares of the electric vehicle producer’s stock valued at $2,515,000 after purchasing an additional 1,875 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Tesla by 2.8% during the 2nd quarter. King Luther Capital Management Corp now owns 6,348 shares of the electric vehicle producer’s stock worth $1,256,000 after purchasing an additional 173 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Tesla by 2.7% during the second quarter. Pacer Advisors Inc. now owns 289,756 shares of the electric vehicle producer’s stock worth $57,337,000 after purchasing an additional 7,633 shares in the last quarter. Finally, Clean Energy Transition LLP increased its holdings in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated 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 transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 621,886 shares of company stock valued at $213,451,751. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TSLA shares. HSBC reaffirmed a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Cantor Fitzgerald upped their price target on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley raised their price objective on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Evercore ISI upped their target price 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. Finally, UBS Group lifted their price target on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $299.33.

Tesla Stock Up 3.1 %

Shares of NASDAQ TSLA opened at $426.50 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $389.94 and a 200 day moving average price of $288.09. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the company earned $0.53 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

About Tesla

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.