Guyasuta Investment Advisors Inc. Has $2.79 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Guyasuta Investment Advisors Inc. cut its position in Tesla, Inc. (NASDAQ:TSLA) by 4.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,906 shares of the electric vehicle producer’s stock after selling 289 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Tesla were worth $2,789,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Hickory Asset Management Inc. bought a new stake in shares of Tesla during the fourth quarter worth $444,000. Covenant Asset Management LLC lifted its position in Tesla by 71.3% during the 4th quarter. Covenant Asset Management LLC now owns 2,206 shares of the electric vehicle producer’s stock worth $891,000 after buying an additional 918 shares in the last quarter. Kessler Investment Group LLC grew its holdings in Tesla by 3.5% during the 4th quarter. Kessler Investment Group LLC now owns 22,575 shares of the electric vehicle producer’s stock worth $9,117,000 after acquiring an additional 760 shares during the last quarter. Empire Life Investments Inc. acquired a new stake in Tesla in the 4th quarter valued at about $2,280,000. Finally, BXM Wealth LLC bought a new position in shares of Tesla in the fourth quarter worth about $410,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TSLA shares. Morgan Stanley raised their price target on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Stifel Nicolaus dropped their target price on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Piper Sandler raised their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Canaccord Genuity Group boosted their price objective on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Barclays raised their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Nine investment 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $326.50.

Tesla Price Performance

Shares of TSLA opened at $354.11 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. 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 173.58, a P/E/G ratio of 6.22 and a beta of 2.34. The company has a 50 day moving average of $405.64 and a 200-day moving average of $309.75.

Tesla (NASDAQ:TSLA) last released 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, equities research analysts forecast that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by corporate insiders.

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.