Cassaday & Co Wealth Management LLC Has $5.20 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Cassaday & Co Wealth Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,876 shares of the electric vehicle producer’s stock after selling 876 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Tesla were worth $5,200,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Swedbank AB grew its holdings in shares of Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Tesla by 34.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after acquiring an additional 1,059 shares during the last quarter. Osborne Partners Capital Management LLC bought a new position in Tesla in the third quarter valued at about $229,000. NorthCrest Asset Manangement LLC lifted its stake in Tesla by 6.5% in the third quarter. NorthCrest Asset Manangement LLC now owns 8,765 shares of the electric vehicle producer’s stock valued at $2,293,000 after buying an additional 536 shares during the period. Finally, GHP Investment Advisors Inc. lifted its stake in Tesla by 28.1% in the third quarter. GHP Investment Advisors Inc. now owns 990 shares of the electric vehicle producer’s stock valued at $259,000 after buying an additional 217 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSLA has been the topic of several analyst reports. Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research report on Tuesday, February 18th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $319.57.

Tesla Stock Down 4.7 %

TSLA stock opened at $337.80 on Monday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $400.17 and a two-hundred day moving average price of $314.04. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 165.59, a P/E/G ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by company insiders.

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.