Clarius Group LLC Sells 2,737 Shares of Tesla, Inc. (NASDAQ:TSLA)

Clarius Group LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 8.6% during the fourth quarter, Holdings Channel reports. The firm owned 28,983 shares of the electric vehicle producer’s stock after selling 2,737 shares during the quarter. Tesla comprises about 0.8% of Clarius Group LLC’s holdings, making the stock its 22nd biggest position. Clarius Group LLC’s holdings in Tesla were worth $11,705,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. King Luther Capital Management Corp boosted its position in Tesla by 2.8% in the second 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. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Tesla by 62.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 20,289 shares of the electric vehicle producer’s stock worth $4,015,000 after buying an additional 7,804 shares during the last quarter. Edge Capital Group LLC bought a new stake in Tesla during the second quarter valued at approximately $522,000. Cyrus J. Lawrence LLC bought a new position in Tesla in the second quarter worth approximately $82,000. Finally, Commonwealth Financial Services LLC boosted its stake in shares of Tesla by 11.2% during the 2nd quarter. Commonwealth Financial Services LLC now owns 945 shares of the electric vehicle producer’s stock worth $187,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 85,000 shares in the company, 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. Over the last ninety days, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Cantor Fitzgerald increased their target price on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wedbush reiterated an “outperform” rating and issued a $400.00 price target on shares of Tesla in a research report on Monday, November 18th. Finally, Evercore ISI raised their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $299.33.

Check Out Our Latest Stock Analysis on Tesla

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $426.50 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm’s 50-day moving average is $389.94 and its 200 day moving average is $288.78.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. Research analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Tesla Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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