Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Vance Wealth LLC

Vance Wealth LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,403 shares of the electric vehicle producer's stock after selling 831 shares during the quarter. Tesla comprises about 1.5% of Vance Wealth LLC's portfolio, making the stock its 14th largest position. Vance Wealth LLC's holdings in Tesla were worth $3,797,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC raised its holdings in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TSLA shares. Canaccord Genuity Group reduced their target price on shares of Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Robert W. Baird cut their price objective on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price target on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Cfra Research cut Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Piper Sandler set a $400.00 target price on Tesla in a research note on Tuesday, May 6th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $289.43.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at $8,085,000. This represents a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value 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. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 412,623 shares of company stock worth $115,600,501. Insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $342.09 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.10 trillion, a P/E ratio of 167.69, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company has a 50-day moving average price of $269.23 and a 200 day moving average price of $331.30.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the business posted $0.45 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company 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.

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