Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Allegheny Financial Group

Allegheny Financial Group lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 34.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,586 shares of the electric vehicle producer's stock after selling 1,852 shares during the quarter. Allegheny Financial Group's holdings in Tesla were worth $1,449,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Horrell Capital Management Inc. increased its stake in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. increased its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC purchased a new stake in Tesla in the 4th quarter valued at about $37,000. CoreFirst Bank & Trust acquired a new position in Tesla in the fourth quarter valued at about $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Tesla during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Down 0.6 %

Shares of TSLA opened at $280.52 on Friday. The business's fifty day moving average price is $259.13 and its two-hundred day moving average price is $324.00. The firm has a market capitalization of $903.54 billion, a price-to-earnings ratio of 137.51, a PEG ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 52 week low of $167.41 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.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 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 return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. StockNews.com lowered Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. Robert W. Baird decreased their price target on Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $287.46.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $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 is available at the SEC website. Also, Director Joseph Gebbia purchased 4,000 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the transaction, the director now owns 4,111 shares in the company, valued at $1,053,690.41. This represents a 3,603.60 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 486,618 shares of company stock worth $155,887,459 in the last three months. 20.70% of the stock is owned by corporate insiders.

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.

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