Tesla, Inc. (NASDAQ:TSLA) Stake Reduced by First Financial Bankshares Inc

First Financial Bankshares Inc decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,151 shares of the electric vehicle producer’s stock after selling 154 shares during the period. First Financial Bankshares Inc’s holdings in Tesla were worth $3,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla during the fourth quarter worth approximately $46,000. Parkworth Wealth Management Inc. purchased a new position in Tesla in the 4th quarter worth about $47,000. PayPay Securities Corp lifted its position in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in Tesla during the 4th quarter worth approximately $55,000. Finally, Finley Financial LLC acquired a new stake in Tesla during the 4th quarter valued at $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Morgan Stanley restated a “top pick” rating and set a $430.00 price objective on shares of Tesla in a research report on Monday, March 3rd. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a report on Tuesday. 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 report on Friday, March 7th. Finally, Guggenheim dropped their price objective on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday, March 12th. Nine investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $319.25.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Down 5.3 %

Shares of TSLA stock opened at $225.31 on Wednesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $724.71 billion, a PE ratio of 110.45, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The stock has a 50 day moving average of $344.47 and a 200-day moving average of $320.61.

Tesla (NASDAQ:TSLA) last released 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 predict that Tesla, Inc. will post 2.56 EPS 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.