Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Heritage Wealth Partners LLC

Heritage Wealth Partners LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,338 shares of the electric vehicle producer’s stock after selling 253 shares during the period. Tesla accounts for approximately 1.2% of Heritage Wealth Partners LLC’s investment portfolio, making the stock its 21st biggest holding. Heritage Wealth Partners LLC’s holdings in Tesla were worth $944,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Abich Financial Wealth Management LLC boosted its holdings in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in Tesla in the 3rd quarter worth approximately $29,000. Clean Yield Group grew its position in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in Tesla during the 3rd quarter valued at approximately $35,000. Finally, M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a research note on Thursday, October 24th. Barclays lifted their target price on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and increased their price target for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Truist Financial restated a “hold” rating and set a $360.00 price objective on shares of Tesla in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company raised their target price on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $296.60.

Tesla Price Performance

Tesla stock opened at $403.31 on Tuesday. The company has a fifty day simple moving average of $379.81 and a 200-day simple moving average of $283.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 110.50, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by 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.