PFG Advisors Sells 320 Shares of Tesla, Inc. (NASDAQ:TSLA)

PFG Advisors trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,537 shares of the electric vehicle producer’s stock after selling 320 shares during the period. PFG Advisors’ holdings in Tesla were worth $4,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Windle Wealth LLC bought a new stake in Tesla during the 4th quarter valued at approximately $287,000. Prosperity Financial Group Inc. raised its stake in Tesla by 53.5% during the 4th quarter. Prosperity Financial Group Inc. now owns 6,303 shares of the electric vehicle producer’s stock valued at $2,545,000 after purchasing an additional 2,198 shares during the last quarter. Warburton Capital Management LLC bought a new stake in Tesla in the 4th quarter valued at $285,000. Natural Investments LLC acquired a new position in shares of Tesla during the fourth quarter valued at about $425,000. Finally, AGF Management Ltd. grew its position in Tesla by 25.2% during the fourth quarter. AGF Management Ltd. now owns 14,169 shares of the electric vehicle producer’s stock worth $5,722,000 after buying an additional 2,848 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 422,452 shares of company stock worth $153,659,530 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group upped their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Guggenheim reaffirmed a “sell” rating on shares of Tesla in a report on Tuesday, February 25th. Wells Fargo & Company upped their target price on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, January 30th. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and raised their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, UBS Group lowered their price objective on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research note on Monday. Nine equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $326.43.

Tesla Price Performance

Tesla stock opened at $230.58 on Wednesday. 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 firm has a market capitalization of $741.66 billion, a P/E ratio of 113.03, a PEG ratio of 5.86 and a beta of 2.50. The business has a 50-day moving average of $360.40 and a 200-day moving average of $319.53. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

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

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.