CJM Wealth Advisers Ltd. Trims Position in Tesla, Inc. (NASDAQ:TSLA)

CJM Wealth Advisers Ltd. trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 23.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 835 shares of the electric vehicle producer’s stock after selling 252 shares during the period. CJM Wealth Advisers Ltd.’s holdings in Tesla were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new stake in Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the 3rd quarter worth approximately $29,000. Clean Yield Group boosted its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in Tesla during the third quarter valued at approximately $35,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Wedbush reiterated an “outperform” rating and issued a $400.00 target price on shares of Tesla in a report on Monday, November 18th. Royal Bank of Canada raised their price target on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $295.69.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by company insiders.

Tesla Trading Up 0.1 %

Tesla stock opened at $394.94 on Friday. 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 firm has a market cap of $1.27 trillion, a PE ratio of 108.20, a P/E/G ratio of 10.80 and a beta of 2.30. The stock’s 50 day simple moving average is $373.68 and its two-hundred day simple moving average is $279.12. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

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