M3 Advisory Group LLC Sells 124 Shares of Tesla, Inc. (NASDAQ:TSLA)

M3 Advisory Group LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.6% during the 4th quarter, Holdings Channel reports. The fund owned 3,274 shares of the electric vehicle producer’s stock after selling 124 shares during the period. Tesla comprises approximately 0.9% of M3 Advisory Group LLC’s holdings, making the stock its 24th largest position. M3 Advisory Group LLC’s holdings in Tesla were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hengehold Capital Management LLC grew its holdings in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares during the last quarter. Acropolis Investment Management LLC lifted its position in Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after acquiring an additional 25 shares during the period. Mount Vernon Associates Inc. MD grew its stake in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares during the last quarter. Avaii Wealth Management LLC increased its holdings in shares of Tesla by 0.9% in the fourth quarter. Avaii Wealth Management LLC now owns 3,636 shares of the electric vehicle producer’s stock valued at $1,468,000 after purchasing an additional 31 shares during the period. Finally, Cora Capital Advisors LLC raised its stake in shares of Tesla by 3.6% in the fourth quarter. Cora Capital Advisors LLC now owns 881 shares of the electric vehicle producer’s stock worth $356,000 after purchasing an additional 31 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 0.3 %

Shares of TSLA opened at $398.31 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $399.99 and a 200 day moving average price of $295.57. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm 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.

Insider Activity

In related news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were 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 in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock valued at $212,451,751 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Robert W. Baird boosted their target price on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Truist Financial reissued a “hold” rating and issued a $360.00 price objective on shares of Tesla in a report on Thursday, January 2nd. Finally, The Goldman Sachs Group raised their target price on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $313.84.

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.