Insigneo Advisory Services LLC Sells 4,599 Shares of Tesla, Inc. (NASDAQ:TSLA)

Insigneo Advisory Services LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,589 shares of the electric vehicle producer’s stock after selling 4,599 shares during the quarter. Tesla makes up approximately 1.5% of Insigneo Advisory Services LLC’s portfolio, making the stock its 12th biggest position. Insigneo Advisory Services LLC’s holdings in Tesla were worth $14,776,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Destination Wealth Management lifted its holdings in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares during the period. Stephens Consulting LLC boosted its holdings in Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after acquiring an additional 891 shares in the last quarter. Worth Asset Management LLC increased its position in Tesla by 383.1% during the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer’s stock valued at $3,358,000 after purchasing an additional 6,593 shares during the period. Strategic Family Wealth Counselors L.L.C. raised its holdings in Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Ameritas Advisory Services LLC lifted its position in shares of Tesla by 104.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock worth $23,242,000 after purchasing an additional 29,458 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $254.11 on Wednesday. The business has a 50-day simple moving average of $280.27 and a two-hundred day simple moving average of $323.03. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market cap of $817.35 billion, a price-to-earnings ratio of 124.56, a PEG ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock worth $123,791,123 in the last three months. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TSLA. HSBC lowered their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. Truist Financial dropped their price target on Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. The Goldman Sachs Group decreased their price objective on Tesla from $320.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Robert W. Baird dropped their target price on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Guggenheim decreased their price target on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research note on Wednesday, March 12th. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $298.59.

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.