Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Quilter Plc

Quilter Plc trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,246 shares of the electric vehicle producer’s stock after selling 12,776 shares during the period. Quilter Plc’s holdings in Tesla were worth $13,022,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Elser Financial Planning Inc purchased a new position in shares of Tesla during the 4th quarter worth approximately $436,000. Opal Wealth Advisors LLC raised its stake in shares of Tesla by 6.3% during the 4th quarter. Opal Wealth Advisors LLC now owns 5,407 shares of the electric vehicle producer’s stock worth $2,184,000 after buying an additional 322 shares in the last quarter. Elevation Wealth Partners LLC raised its stake in shares of Tesla by 37.7% during the 4th quarter. Elevation Wealth Partners LLC now owns 8,530 shares of the electric vehicle producer’s stock worth $3,445,000 after buying an additional 2,336 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in shares of Tesla during the 4th quarter worth approximately $164,000. Finally, Fonville Wealth Management LLC raised its stake in shares of Tesla by 8.7% during the 4th quarter. Fonville Wealth Management LLC now owns 1,329 shares of the electric vehicle producer’s stock worth $537,000 after buying an additional 106 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was 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 of the company’s stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 over the last three months. 20.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TSLA shares. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Glj Research reaffirmed a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, Truist Financial raised their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $326.50.

Tesla Price Performance

Shares of Tesla stock opened at $355.94 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market capitalization of $1.14 trillion, a P/E ratio of 174.48, a PEG ratio of 6.22 and a beta of 2.34. 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 business’s fifty day moving average price is $407.25 and its 200 day moving average price is $306.44.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts anticipate that Tesla, Inc. will post 2.54 earnings per share 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.