Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Solitude Financial Services

Solitude Financial Services lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 33.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 600 shares of the electric vehicle producer’s stock after selling 300 shares during the quarter. Solitude Financial Services’ holdings in Tesla were worth $242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter worth about $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the 3rd quarter worth approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $46,000. PayPay Securities Corp increased its holdings in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in Tesla during the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $25,466,850. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 422,452 shares of company stock worth $153,659,530. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $262.67 on Monday. The stock has a 50-day simple moving average of $367.78 and a 200-day simple moving average of $319.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a market capitalization of $844.88 billion, a PE ratio of 128.76, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Glj Research restated a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Wednesday, February 12th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Nine equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $327.37.

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.