AlphaStar Capital Management LLC Sells 498 Shares of Tesla, Inc. (NASDAQ:TSLA)

AlphaStar Capital Management LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,234 shares of the electric vehicle producer’s stock after selling 498 shares during the quarter. Tesla makes up approximately 0.6% of AlphaStar Capital Management LLC’s holdings, making the stock its 26th biggest holding. AlphaStar Capital Management LLC’s holdings in Tesla were worth $5,344,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Wedge Capital Management L L P NC raised its position in shares of Tesla by 18.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,489 shares of the electric vehicle producer’s stock valued at $651,000 after acquiring an additional 384 shares during the period. Creative Planning raised its holdings in Tesla by 28.3% during the 3rd quarter. Creative Planning now owns 896,484 shares of the electric vehicle producer’s stock worth $221,677,000 after buying an additional 197,839 shares during the period. Swedbank AB raised its holdings in Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after buying an additional 29,669 shares during the period. Petredis Investment Advisors LLC raised its holdings in Tesla by 4.0% during the 3rd quarter. Petredis Investment Advisors LLC now owns 36,056 shares of the electric vehicle producer’s stock worth $9,433,000 after buying an additional 1,380 shares during the period. Finally, First United Bank & Trust raised its holdings in Tesla by 222.3% during the 3rd quarter. First United Bank & Trust now owns 1,776 shares of the electric vehicle producer’s stock worth $465,000 after buying an additional 1,225 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TSLA. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and raised their target price for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Canaccord Genuity Group raised their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Morgan Stanley raised their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Benchmark assumed coverage on shares of Tesla in a research note on Wednesday. They issued a “buy” rating and a $475.00 target price for the company. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $326.50.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s 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 transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 in the company, valued at $45,063,565.40. This trade represents 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 635,776 shares of company stock valued at $231,335,112. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $336.51 on Thursday. The business has a 50 day moving average of $407.68 and a 200 day moving average of $306.23. The company has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 164.96, a PEG ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts predict that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

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.