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

Channel Wealth LLC lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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 filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Acropolis Investment Management LLC boosted its holdings in Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after purchasing an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its stake in shares of Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after buying an additional 25 shares during the last quarter. Connable Office Inc. grew its holdings in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares during the period. Community Bank N.A. raised its position in Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after acquiring an additional 38 shares in the last quarter. Finally, Holistic Financial Partners lifted its holdings in Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.1 %

Shares of Tesla stock opened at $426.50 on Friday. The stock has a 50 day moving average of $389.94 and a 200 day moving average of $288.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm 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 fifty-two week low of $138.80 and a fifty-two week high of $488.54.

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

Analyst Ratings Changes

Several research firms have recently weighed in on TSLA. Stifel Nicolaus lifted their target price on shares of Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a report on Monday, January 6th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Barclays raised their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $230.00 to $515.00 in a research report on Tuesday, December 17th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $299.33.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company’s stock.

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.