Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,548 shares of the electric vehicle producer’s stock after selling 180 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Tesla were worth $5,326,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of TSLA. Federated Hermes Inc. lifted its stake in Tesla by 194.8% in the second quarter. Federated Hermes Inc. now owns 973 shares of the electric vehicle producer’s stock valued at $1,050,000 after acquiring an additional 643 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Tesla by 5.4% during the second quarter. Sequoia Financial Advisors LLC now owns 1,205 shares of the electric vehicle producer’s stock worth $1,301,000 after acquiring an additional 62 shares during the period. WFA of San Diego LLC bought a new position in Tesla during the second quarter worth $324,000. Toronto Dominion Bank increased its position in Tesla by 10.4% during the second quarter. Toronto Dominion Bank now owns 42,882 shares of the electric vehicle producer’s stock worth $46,304,000 after acquiring an additional 4,027 shares during the period. Finally, Capital Advisors Inc. OK bought a new position in Tesla during the second quarter worth $536,000. Institutional investors and hedge funds own 48.22% of the company’s stock.
In related news, SVP Andrew D. Baglino sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $424.60, for a total transaction of $4,246,000.00. Following the completion of the sale, the senior vice president now directly owns 29,837 shares of the company’s stock, valued at approximately $12,668,790.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Vaibhav Taneja sold 4,463 shares of the stock in a transaction that occurred on Wednesday, January 6th. The stock was sold at an average price of $762.99, for a total value of $3,405,224.37. Following the sale, the chief accounting officer now directly owns 16,728 shares of the company’s stock, valued at $12,763,296.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,643 shares of company stock valued at $92,195,056. 23.00% of the stock is currently owned by company insiders.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.54. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Tesla had a return on equity of 4.19% and a net margin of 1.43%. During the same period in the prior year, the business posted $0.37 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 0.62 earnings per share for the current year.
A number of brokerages recently issued reports on TSLA. Morgan Stanley raised shares of Tesla from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $360.00 to $540.00 in a research report on Wednesday, November 18th. Needham & Company LLC began coverage on shares of Tesla in a report on Wednesday, September 23rd. They set a “sell” rating for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of Tesla from $117.00 to $137.00 and gave the company a “sell” rating in a research report on Tuesday, October 27th. JMP Securities increased their price target on shares of Tesla from $516.00 to $788.00 and gave the stock an “outperform” rating in a research report on Monday, December 21st. Finally, Exane BNP Paribas downgraded Tesla from a “neutral” rating to an “underperform” rating and set a $340.00 price objective on the stock. in a report on Tuesday, January 5th. Twelve equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $325.36.
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive; and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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