Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Lowered by SGL Investment Advisors Inc.

SGL Investment Advisors Inc. cut its position in Tesla, Inc. (NASDAQ:TSLA) by 30.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 756 shares of the electric vehicle producer’s stock after selling 327 shares during the quarter. SGL Investment Advisors Inc.’s holdings in Tesla were worth $305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla in the 4th quarter valued at approximately $56,600,000. Stephens Consulting LLC grew its stake in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after purchasing an additional 891 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. grew its stake in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. acquired a new position in shares of Tesla during the fourth quarter valued at $8,158,000. Finally, Ameritas Advisory Services LLC raised its stake in shares of Tesla by 104.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock valued at $23,242,000 after purchasing an additional 29,458 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $342.82 on Friday. The company has a market cap of $1.10 trillion, a P/E ratio of 168.05, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company’s fifty day moving average is $264.96 and its two-hundred day moving average is $328.97. 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 12-month low of $167.41 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,623 shares of company stock worth $115,600,501 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSLA. The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a research report on Tuesday, April 22nd. Cantor Fitzgerald reduced their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Finally, Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $287.46.

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.