Tesla, Inc. (NASDAQ:TSLA) Stock Position Trimmed by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. cut its position in Tesla, Inc. (NASDAQ:TSLA) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,732 shares of the electric vehicle producer’s stock after selling 90 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Tesla were worth $2,315,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Tesla by 1.8% during 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 buying an additional 1,022,589 shares during the period. FMR LLC grew its stake in shares of Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tesla by 13.7% in the 3rd 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 purchasing an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $4,328,884,000 after purchasing an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 8.4 %

Shares of Tesla stock opened at $302.80 on Wednesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a market cap of $973.96 billion, a PE ratio of 148.43, a P/E/G ratio of 5.86 and a beta of 2.34. The stock has a fifty day moving average price of $393.98 and a 200-day moving average price of $315.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research note on Monday, January 6th. Mizuho reissued an “outperform” rating and issued a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Truist Financial lifted their target price on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $319.57.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla 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 completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock worth $195,995,200 in the last quarter. 20.70% of the stock is owned by company insiders.

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.