Monte Financial Group LLC Has $654,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Monte Financial Group LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,619 shares of the electric vehicle producer’s stock after selling 87 shares during the period. Monte Financial Group LLC’s holdings in Tesla were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Tributary Capital Management LLC acquired a new position in shares of Tesla during the 4th quarter worth approximately $353,000. SJS Investment Consulting Inc. grew its position in Tesla by 30.5% during the fourth quarter. SJS Investment Consulting Inc. now owns 2,235 shares of the electric vehicle producer’s stock worth $902,000 after buying an additional 522 shares in the last quarter. Lantz Financial LLC increased its stake in Tesla by 13.4% during the 4th quarter. Lantz Financial LLC now owns 1,379 shares of the electric vehicle producer’s stock worth $557,000 after acquiring an additional 163 shares during the period. Cyndeo Wealth Partners LLC raised its holdings in Tesla by 8.3% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 22,573 shares of the electric vehicle producer’s stock valued at $9,116,000 after acquiring an additional 1,728 shares in the last quarter. Finally, Accel Wealth Management grew its holdings in shares of Tesla by 14.5% during the 4th quarter. Accel Wealth Management now owns 1,258 shares of the electric vehicle producer’s stock worth $508,000 after purchasing an additional 159 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock worth $212,451,751 over the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $397.15 on Tuesday. The business has a 50-day simple moving average of $398.82 and a 200 day simple moving average of $294.47. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.81, a PEG ratio of 8.42 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

Analysts Set New Price Targets

Several research firms recently weighed in on TSLA. Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $230.00 to $515.00 in a research report on Tuesday, December 17th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a research note on Friday, January 3rd. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and lifted their price target for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned 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 company has an average rating of “Hold” and an average price target 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.