SNS Financial Group LLC Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

SNS Financial Group LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,505 shares of the electric vehicle producer’s stock after selling 968 shares during the period. SNS Financial Group LLC’s holdings in Tesla were worth $3,031,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Sterling Financial Planning Inc. purchased a new position in Tesla during the 4th quarter worth $252,000. Bryn Mawr Capital Management LLC increased its stake in shares of Tesla by 369.4% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 51,554 shares of the electric vehicle producer’s stock worth $20,820,000 after acquiring an additional 40,572 shares during the period. Fagan Associates Inc. raised its holdings in Tesla by 1.1% during the fourth quarter. Fagan Associates Inc. now owns 9,958 shares of the electric vehicle producer’s stock worth $4,021,000 after purchasing an additional 111 shares in the last quarter. Good Life Advisors LLC lifted its position in Tesla by 9.9% in the fourth quarter. Good Life Advisors LLC now owns 18,943 shares of the electric vehicle producer’s stock valued at $7,650,000 after purchasing an additional 1,713 shares during the period. Finally, Financial Perspectives Inc boosted its holdings in Tesla by 1.0% in the 4th quarter. Financial Perspectives Inc now owns 7,840 shares of the electric vehicle producer’s stock valued at $3,166,000 after purchasing an additional 77 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Tesla stock opened at $337.80 on Friday. The stock has a fifty day moving average price of $400.17 and a 200 day moving average price of $313.18. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a market capitalization of $1.09 trillion, a P/E ratio of 165.59, a PEG ratio of 5.86 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 523,386 shares of company stock valued at $195,995,200. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on TSLA shares. Piper Sandler raised their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Truist Financial raised their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Barclays upped their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a research note on Tuesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Ten equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $319.57.

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.