Planned Solutions Inc. Sells 79 Shares of Tesla, Inc. (NASDAQ:TSLA)

Planned Solutions Inc. cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.9% in the fourth quarter, HoldingsChannel reports. The fund owned 924 shares of the electric vehicle producer’s stock after selling 79 shares during the period. Planned Solutions Inc.’s holdings in Tesla were worth $373,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Abich Financial Wealth Management LLC lifted its position in Tesla by 168.8% during 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 during the period. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter worth approximately $29,000. Clean Yield Group lifted its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. Peterson Financial Group Inc. bought a new position in Tesla in the third quarter valued at approximately $35,000. Finally, M&R Capital Management Inc. grew its holdings in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA opened at $412.38 on Friday. The company has a market cap of $1.32 trillion, a PE ratio of 112.98, a price-to-earnings-growth ratio of 8.55 and a beta of 2.30. The firm has a 50-day moving average of $395.08 and a 200-day moving average of $292.13. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. 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 (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TSLA. Morgan Stanley raised their price target on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their target price on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. HSBC reiterated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Mizuho upgraded shares of 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 report on Tuesday, December 17th. Finally, Wedbush increased their target price on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $309.48.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is owned by company insiders.

About Tesla

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.