Concord Wealth Partners Sells 93 Shares of Tesla, Inc. (NASDAQ:TSLA)

Concord Wealth Partners cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,915 shares of the electric vehicle producer’s stock after selling 93 shares during the period. Concord Wealth Partners’ holdings in Tesla were worth $1,718,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TSLA. Vicus Capital grew its position in Tesla by 50.6% during the third quarter. Vicus Capital now owns 1,676 shares of the electric vehicle producer’s stock worth $419,000 after buying an additional 563 shares in the last quarter. First Pacific Financial acquired a new stake in Tesla during the third quarter worth about $81,000. Callahan Advisors LLC grew its position in Tesla by 10.0% during the third quarter. Callahan Advisors LLC now owns 1,375 shares of the electric vehicle producer’s stock worth $344,000 after buying an additional 125 shares in the last quarter. Maryland State Retirement & Pension System grew its position in Tesla by 0.4% during the third quarter. Maryland State Retirement & Pension System now owns 212,230 shares of the electric vehicle producer’s stock worth $53,104,000 after buying an additional 935 shares in the last quarter. Finally, Dakota Wealth Management boosted its holdings in Tesla by 20.1% during the third quarter. Dakota Wealth Management now owns 12,233 shares of the electric vehicle producer’s stock valued at $3,061,000 after purchasing an additional 2,045 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. TD Cowen decreased their price objective on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Wedbush reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Tesla in a report on Monday. Canaccord Genuity Group decreased their price objective on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Finally, Sanford C. Bernstein reduced their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $184.32.

Tesla Stock Up 1.0 %

Shares of Tesla stock traded up $1.87 during trading hours on Wednesday, reaching $185.15. 76,199,472 shares of the company’s stock were exchanged, compared to its average volume of 104,985,094. The company has a 50 day moving average of $174.71 and a two-hundred day moving average of $206.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a market cap of $590.48 billion, a P/E ratio of 45.96, a P/E/G ratio of 5.28 and a beta of 2.39.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 in the last three months. Insiders own 20.90% of the company’s stock.

About Tesla

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.