Tesla, Inc. (NASDAQ:TSLA) Stock Position Trimmed by Traction Financial Partners LLC

Traction Financial Partners LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 14.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 859 shares of the electric vehicle producer’s stock after selling 144 shares during the quarter. Traction Financial Partners LLC’s holdings in Tesla were worth $347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after purchasing an additional 1,022,589 shares during the period. FMR LLC increased its position in shares of Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after acquiring an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after acquiring an additional 301,968 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after buying an additional 1,294,093 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of a number of research reports. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Wells Fargo & Company increased their target price on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. Guggenheim reiterated a “sell” rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $440.00 price target on shares of Tesla in a research report on Thursday, January 30th. Finally, Piper Sandler increased their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $326.50.

Tesla Stock Down 4.7 %

TSLA opened at $337.80 on Friday. The business has a 50 day moving average price of $400.17 and a 200 day moving average price of $312.40. Tesla, Inc. has a twelve month low of $138.80 and a twelve month 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. The firm has a market cap of $1.09 trillion, a P/E ratio of 165.59, a price-to-earnings-growth ratio of 5.97 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. 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 through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. Insiders own 20.70% of the company’s stock.

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.