Stockman Wealth Management Inc. Sells 45 Shares of Tesla, Inc. (NASDAQ:TSLA)

Stockman Wealth Management Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.4% in the fourth quarter, Holdings Channel reports. The fund owned 1,830 shares of the electric vehicle producer’s stock after selling 45 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Tesla were worth $739,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares during the period. Finley Financial LLC acquired a new position in shares of Tesla in the fourth quarter valued at approximately $64,000. Finally, Abich Financial Wealth Management LLC increased its stake in shares of Tesla by 136.4% in the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock valued at $80,000 after buying an additional 176 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent research reports. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Barclays increased their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Guggenheim reissued a “sell” rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Jefferies Financial Group increased their target price on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $326.50.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at $30,095,100. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on 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 owns 105,032 shares in the company, valued at $37,226,491.76. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 635,776 shares of company stock worth $231,335,112. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $336.51 on Thursday. 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 stock’s fifty day simple moving average is $407.68 and its two-hundred day simple moving average is $306.23. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market cap of $1.08 trillion, a PE ratio of 164.96, a price-to-earnings-growth 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 earnings per share 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%. As a group, analysts forecast that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

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.