CCG Wealth Management LLC Boosts Stake in Tesla, Inc. $TSLA

CCG Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 85.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 10,306 shares of the electric vehicle producer’s stock after acquiring an additional 4,754 shares during the period. Tesla accounts for approximately 2.2% of CCG Wealth Management LLC’s investment portfolio, making the stock its 8th biggest position. CCG Wealth Management LLC’s holdings in Tesla were worth $4,583,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Northstar Advisory Group LLC increased its stake in shares of Tesla by 1.8% in the third quarter. Northstar Advisory Group LLC now owns 8,843 shares of the electric vehicle producer’s stock valued at $3,933,000 after buying an additional 159 shares during the period. Paragon Private Wealth Management LLC increased its holdings in Tesla by 22.6% in the third quarter. Paragon Private Wealth Management LLC now owns 7,579 shares of the electric vehicle producer’s stock valued at $3,371,000 after purchasing an additional 1,399 shares during the period. KPP Advisory Services LLC raised its position in Tesla by 12.4% during the 3rd quarter. KPP Advisory Services LLC now owns 36,971 shares of the electric vehicle producer’s stock worth $16,442,000 after purchasing an additional 4,073 shares during the last quarter. Flagship Private Wealth LLC acquired a new position in Tesla during the 3rd quarter worth about $218,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Tesla in the 3rd quarter valued at about $267,000. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $430.90 on Wednesday. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 287.27, a P/E/G ratio of 7.40 and a beta of 1.83. The firm’s 50-day moving average price is $445.92 and its 200-day moving average price is $406.46. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $498.83.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the transaction, the chief financial officer owned 13,757 shares in the company, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $445.40, for a total value of $26,724,000.00. Following the sale, the director owned 577,031 shares of the company’s stock, valued at approximately $257,009,607.40. This represents a 9.42% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 119,457 shares of company stock valued at $53,501,145. 19.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on Tesla from $400.00 to $420.00 in a research note on Friday, January 2nd. Barclays restated a “neutral” rating on shares of Tesla in a research report on Friday, January 23rd. Dbs Bank upgraded shares of Tesla to a “hold” rating in a research report on Wednesday, November 5th. DZ Bank restated a “sell” rating on shares of Tesla in a report on Tuesday, January 6th. Finally, New Street Research increased their price target on Tesla from $520.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $410.77.

Check Out Our Latest Stock Report on TSLA

Tesla News Summary

Here are the key news stories impacting Tesla this week:

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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