Allegiance Financial Group Advisory Services LLC Sells 1,133 Shares of Tesla, Inc. (NASDAQ:TSLA)

Allegiance Financial Group Advisory Services LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 37.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,862 shares of the electric vehicle producer’s stock after selling 1,133 shares during the quarter. Allegiance Financial Group Advisory Services LLC’s holdings in Tesla were worth $752,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Hengehold Capital Management LLC boosted its holdings in Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI boosted its holdings in Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after purchasing an additional 24 shares during the last quarter. Acropolis Investment Management LLC boosted its holdings in Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after purchasing an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its holdings in Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares during the last quarter. Finally, Vista Finance LLC boosted its holdings in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 4.0 %

TSLA stock opened at $293.33 on Friday. The firm has a 50-day moving average of $385.35 and a two-hundred day moving average of $315.95. The company has a market cap of $943.49 billion, a price-to-earnings ratio of 143.79, a PEG ratio of 5.86 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler upped their price target on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. UBS Group increased their target price on shares of Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research note on Thursday, January 30th. Canaccord Genuity Group increased their target price on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wedbush set a $302.80 target price on shares of Tesla in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $318.77.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 in the last 90 days. Insiders own 20.70% of the company’s stock.

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.