Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Strong Tower Advisory Services

Strong Tower Advisory Services cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,661 shares of the electric vehicle producer’s stock after selling 4,861 shares during the period. Tesla makes up approximately 3.4% of Strong Tower Advisory Services’ investment portfolio, making the stock its 8th largest holding. Strong Tower Advisory Services’ holdings in Tesla were worth $7,619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. boosted its position in shares of Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after buying an additional 3,453,078 shares during the period. State Street Corp boosted its position in shares of Tesla by 4.4% during the second quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock worth $27,254,286,000 after buying an additional 4,431,570 shares during the period. Morgan Stanley boosted its position in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares during the period. FMR LLC boosted its position in shares of Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after buying an additional 269,182 shares during the period. Finally, Norges Bank acquired a new position in shares of Tesla during the fourth quarter worth about $3,459,540,000. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Mizuho reissued a “neutral” rating and set a $195.00 price target (down from $270.00) on shares of Tesla in a research report on Monday. Truist Financial dropped their price objective on Tesla from $227.00 to $193.00 and set a “hold” rating on the stock in a research note on Thursday, January 25th. Robert W. Baird restated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Thursday, January 25th. Piper Sandler dropped their price objective on Tesla from $295.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 5th. Finally, Wells Fargo & Company lowered Tesla from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $200.00 to $125.00 in a research note on Wednesday, March 13th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $204.63.

Tesla Stock Down 2.2 %

Shares of NASDAQ:TSLA opened at $175.79 on Friday. The firm has a market cap of $559.85 billion, a P/E ratio of 40.79, a P/E/G ratio of 4.06 and a beta of 2.41. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29. The business has a fifty day simple moving average of $187.78 and a 200 day simple moving average of $222.06.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 earnings per share. Analysts predict that Tesla, Inc. will post 2.44 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 198,598 shares of company stock valued at $36,952,434 in the last three months. Insiders own 25.10% of the company’s stock.

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.