Armstrong Fleming & Moore Inc Sells 3,865 Shares of Tesla, Inc. (NASDAQ:TSLA)

Armstrong Fleming & Moore Inc lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 39.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,932 shares of the electric vehicle producer’s stock after selling 3,865 shares during the period. Tesla accounts for approximately 1.5% of Armstrong Fleming & Moore Inc’s holdings, making the stock its 12th largest position. Armstrong Fleming & Moore Inc’s holdings in Tesla were worth $2,396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. World Investment Advisors LLC grew its holdings in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares during the period. Destination Wealth Management boosted its holdings in shares of Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after acquiring an additional 1,359 shares during the period. Stephens Consulting LLC boosted its holdings in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after acquiring an additional 891 shares during the period. Vinva Investment Management Ltd boosted its holdings in shares of Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares during the period. Finally, MML Investors Services LLC boosted its holdings in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after acquiring an additional 9,919 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’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 sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Barclays boosted their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Wednesday, February 12th. Canaccord Genuity Group lifted their price target on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Mizuho reiterated an “outperform” rating and issued a $515.00 price target on shares of Tesla in a research report on Thursday, January 30th. Finally, Piper Sandler lifted their price target on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Ten investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $318.77.

Tesla Stock Performance

Shares of Tesla stock opened at $293.33 on Friday. 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 cap of $943.49 billion, a price-to-earnings ratio of 143.79, a P/E/G ratio of 5.86 and a beta of 2.34. The company’s fifty day moving average is $385.35 and its 200 day moving average is $315.95.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company 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.