TTP Investments Inc. Sells 2,048 Shares of Tesla, Inc. (NASDAQ:TSLA)

TTP Investments Inc. decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.9% in the fourth quarter, Holdings Channel reports. The fund owned 23,798 shares of the electric vehicle producer’s stock after selling 2,048 shares during the period. Tesla accounts for 3.4% of TTP Investments Inc.’s investment portfolio, making the stock its 10th biggest holding. TTP Investments Inc.’s holdings in Tesla were worth $9,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Transcendent Capital Group LLC acquired a new stake in Tesla in the 3rd quarter worth $29,000. Clean Yield Group lifted 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 valued at $33,000 after buying an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new stake in Tesla during the third quarter worth about $35,000. M&R Capital Management Inc. increased its stake in 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 acquiring an additional 100 shares during the period. Finally, Quarry LP bought a new stake in shares of Tesla in the 2nd quarter worth approximately $48,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock valued at $212,451,751 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Up 0.3 %

TSLA stock opened at $398.31 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market capitalization of $1.28 trillion, a P/E ratio of 109.13, a P/E/G ratio of 8.42 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. The business has a 50-day moving average of $399.99 and a 200-day moving average of $295.57.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TSLA shares. Glj Research restated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Friday, January 3rd. Cantor Fitzgerald increased their price objective on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Guggenheim increased their price target on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research report on Thursday, December 5th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $313.84.

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.