Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,721 shares of the electric vehicle producer’s stock after selling 597 shares during the period. Grimes & Company Inc.’s holdings in Tesla were worth $2,714,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TSLA. Transcendent Capital Group LLC bought a new position in shares of Tesla during the third quarter worth about $29,000. Clean Yield Group raised its stake in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Tesla during the 3rd quarter worth approximately $35,000. M&R Capital Management Inc. grew its position in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Finally, Finley Financial LLC bought a new stake in shares of Tesla in the 4th quarter valued at approximately $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This 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 over the last three months. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

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

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Jefferies Financial Group increased their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. Finally, KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $313.84.

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.