Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,459 shares of the electric vehicle producer’s stock after selling 4,930 shares during the quarter. Tesla accounts for 0.8% of Advisory Services Network LLC’s portfolio, making the stock its 12th largest position. Advisory Services Network LLC’s holdings in Tesla were worth $45,011,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Horrell Capital Management Inc. boosted its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. grew its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the fourth quarter worth about $38,000. Delos Wealth Advisors LLC lifted its stake in shares of Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after acquiring an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new stake in Tesla during the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 370,228 shares of company stock valued at $122,791,123 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. Benchmark started coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price on the stock. Truist Financial cut their price target on Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a report on Thursday, April 3rd. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Finally, Wedbush cut their price objective on shares of Tesla from $550.00 to $315.00 and set an “outperform” rating on the stock in a research note on Monday. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $305.31.

Tesla Trading Down 2.6 %

Tesla stock opened at $233.29 on Tuesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market capitalization of $750.38 billion, a PE ratio of 114.36, a PEG ratio of 5.86 and a beta of 2.58. The business’s 50-day simple moving average is $302.70 and its 200-day simple moving average is $324.17.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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 forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.