HBK Sorce Advisory LLC Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

HBK Sorce Advisory LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,356 shares of the electric vehicle producer’s stock after selling 252 shares during the period. HBK Sorce Advisory LLC’s holdings in Tesla were worth $9,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Geode Capital Management LLC grew its stake in shares of Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares during the last quarter. FMR LLC boosted its holdings in Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after acquiring an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Tesla by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after acquiring an additional 780,026 shares in the last quarter. Finally, Amundi raised its position in shares of Tesla by 1.2% in the 4th quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer’s stock worth $5,117,345,000 after purchasing an additional 159,508 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 7.6 %

Shares of NASDAQ TSLA opened at $248.09 on Thursday. The firm’s 50-day moving average price is $357.29 and its 200-day moving average price is $319.03. 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 stock has a market capitalization of $797.99 billion, a price-to-earnings ratio of 121.61, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last posted 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, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of analyst reports. Truist Financial raised their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Mizuho reissued an “outperform” rating and set a $515.00 price target on shares of Tesla in a research report on Thursday, January 30th. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Evercore ISI lifted their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $550.00 price target on shares of Tesla in a report on Friday, March 7th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $325.81.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their position. 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 company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 in the last ninety days. 20.70% of the stock is owned by company insiders.

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.