Peterson Wealth Advisors LLC Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Peterson Wealth Advisors LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,010 shares of the electric vehicle producer’s stock after selling 268 shares during the quarter. Peterson Wealth Advisors LLC’s holdings in Tesla were worth $825,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter worth approximately $29,000. Clean Yield Group increased its stake in 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 period. Peterson Financial Group Inc. bought a new stake in shares of Tesla during the third quarter worth $35,000. M&R Capital Management Inc. boosted its stake 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 purchasing an additional 100 shares during the period. Finally, Quarry LP bought a new position in shares of Tesla in the second quarter worth about $48,000. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TSLA shares. Canaccord Genuity Group boosted their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley raised their price objective on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. The Goldman Sachs Group raised their price target on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird upped their price objective on shares of Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Eight 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $313.84.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 617,886 shares of company stock valued at $212,451,751. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $406.58 on Friday. The stock has a market cap of $1.31 trillion, a PE ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The business has a 50-day simple moving average of $398.82 and a 200-day simple moving average of $294.03. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts expect that Tesla, Inc. will post 2.01 EPS 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.