Birchcreek Wealth Management LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Birchcreek Wealth Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 989 shares of the electric vehicle producer’s stock after selling 70 shares during the period. Birchcreek Wealth Management LLC’s holdings in Tesla were worth $399,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the 3rd quarter worth about $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla during the fourth quarter worth approximately $46,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Tesla in the 3rd quarter valued at $35,000. Finally, Finley Financial LLC acquired a new position in shares of Tesla during the 4th quarter valued at $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Guggenheim reiterated a “sell” rating on shares of Tesla in a report on Tuesday. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Barclays boosted their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Finally, Piper Sandler increased their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $319.57.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $1,903,716. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction 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 worth $195,995,200 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 4.0 %

NASDAQ TSLA opened at $290.80 on Thursday. The firm’s 50 day moving average price is $390.99 and its two-hundred day moving average price is $315.51. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market cap of $935.36 billion, a price-to-earnings ratio of 142.55, a PEG ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its quarterly 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%. Equities analysts anticipate 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.