MBA Advisors LLC Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

MBA Advisors LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,320 shares of the electric vehicle producer’s stock after selling 234 shares during the quarter. MBA Advisors LLC’s holdings in Tesla were worth $533,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Transcendent Capital Group LLC purchased a new stake in Tesla during the third quarter worth approximately $29,000. Peterson Financial Group Inc. purchased a new stake in Tesla during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares in the last quarter. Finley Financial LLC purchased a new position in Tesla in the fourth quarter valued at about $64,000. Finally, Abich Financial Wealth Management LLC raised its position in Tesla by 136.4% in the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock valued at $80,000 after purchasing an additional 176 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 523,386 shares of company stock valued at $195,995,200. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. Piper Sandler increased their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Canaccord Genuity Group increased their price objective on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Mizuho reissued an “outperform” rating and set a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Stifel Nicolaus lowered their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a report on Monday. Finally, UBS Group boosted their price objective on shares of Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $326.50.

Tesla Price Performance

Shares of TSLA opened at $355.94 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $1.14 trillion, a P/E ratio of 174.48, a PEG ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a fifty day moving average price of $407.25 and a 200 day moving average price of $306.44.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. On average, research analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current year.

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.