Geneos Wealth Management Inc. Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

Geneos Wealth Management Inc. cut its position in Tesla, Inc. (NASDAQ:TSLA) by 31.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,803 shares of the electric vehicle producer’s stock after selling 9,290 shares during the period. Geneos Wealth Management Inc.’s holdings in Tesla were worth $7,997,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter valued at approximately $29,000. Clean Yield Group raised its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. bought a new position in shares of Tesla during the third quarter valued at $35,000. M&R Capital Management Inc. boosted its position in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Finally, Quarry LP bought a new stake in Tesla in the 2nd quarter worth about $48,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on 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 owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Cantor Fitzgerald lifted their price objective on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Guggenheim raised their target price on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research report on Thursday, December 5th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $313.84.

Tesla Stock Performance

NASDAQ TSLA opened at $397.15 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The business has a 50 day simple moving average of $398.82 and a two-hundred day simple moving average of $294.47. The stock has a market capitalization of $1.27 trillion, a PE ratio of 108.81, a P/E/G ratio of 8.42 and a beta of 2.30.

Tesla Company 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.