Taylor Financial Group Inc. Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Taylor Financial Group Inc. reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 67.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 530 shares of the electric vehicle producer’s stock after selling 1,095 shares during the quarter. Taylor Financial Group Inc.’s holdings in Tesla were worth $214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the 4th quarter valued at approximately $46,000. Parkworth Wealth Management Inc. purchased a new position in shares of Tesla in the 4th quarter valued at approximately $47,000. PayPay Securities Corp lifted its holdings in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the period. Rialto Wealth Management LLC acquired a new stake in shares of Tesla in the 4th quarter valued at approximately $55,000. Finally, Finley Financial LLC acquired a new stake in shares of Tesla in the 4th quarter valued at approximately $64,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Benchmark initiated coverage on Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target for the company. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and raised their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Canaccord Genuity Group reissued a “buy” rating and issued a $404.00 price target on shares of Tesla in a report on Monday. Piper Sandler lifted their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Glj Research reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Nine investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $323.00.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale 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 business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

TSLA stock opened at $238.01 on Tuesday. The stock has a 50-day moving average price of $347.85 and a two-hundred day moving average price of $320.53. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $765.56 billion, a PE ratio of 116.67, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

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