Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Net Worth Advisory Group

Net Worth Advisory Group cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,052 shares of the electric vehicle producer’s stock after selling 55 shares during the period. Net Worth Advisory Group’s holdings in Tesla were worth $1,636,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Retirement Capital Strategies lifted its position in Tesla by 58.7% during the 4th quarter. Retirement Capital Strategies now owns 3,487 shares of the electric vehicle producer’s stock worth $1,408,000 after acquiring an additional 1,290 shares in the last quarter. Clare Market Investments LLC acquired a new position in shares of Tesla in the 4th quarter valued at approximately $8,513,000. Vista Investment Partners II LLC acquired a new position in shares of Tesla in the 4th quarter valued at approximately $631,000. Independent Advisor Alliance raised its position in shares of Tesla by 18.4% in the 4th quarter. Independent Advisor Alliance now owns 117,176 shares of the electric vehicle producer’s stock valued at $47,320,000 after purchasing an additional 18,172 shares in the last quarter. Finally, Altiora Financial Group LLC raised its position in shares of Tesla by 6.0% in the 4th quarter. Altiora Financial Group LLC now owns 2,246 shares of the electric vehicle producer’s stock valued at $907,000 after purchasing an additional 128 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 422,452 shares of company stock worth $153,659,530 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on TSLA. Guggenheim reaffirmed a “sell” rating on shares of Tesla in a research report on Tuesday, February 25th. Wedbush reaffirmed an “outperform” rating and issued a $550.00 target price on shares of Tesla in a research report on Friday. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and upped their target price for the company from $180.00 to $388.00 in a research report on Friday. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $326.31.

Tesla Trading Down 15.4 %

NASDAQ:TSLA opened at $222.15 on Tuesday. 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 stock has a market cap of $714.55 billion, a price-to-earnings ratio of 108.90, a PEG ratio of 5.86 and a beta of 2.50. The business has a fifty day moving average of $363.87 and a 200-day moving average of $319.46. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share 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.