abrdn plc Sells 177,469 Shares of Tesla, Inc. (NASDAQ:TSLA)

abrdn plc lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,650,779 shares of the electric vehicle producer’s stock after selling 177,469 shares during the period. Tesla makes up about 2.1% of abrdn plc’s investment portfolio, making the stock its 6th biggest holding. abrdn plc owned about 0.08% of Tesla worth $1,102,737,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TSLA. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter worth $29,000. Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the third quarter worth about $35,000. Finley Financial LLC bought a new position in shares of Tesla during the 4th quarter valued at about $64,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares during the period. Finally, Crews Bank & Trust bought a new stake in Tesla during the 4th quarter worth approximately $91,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 664,776 shares of company stock worth $239,746,862. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 3.4 %

Shares of TSLA stock opened at $361.62 on Friday. The stock has a 50-day moving average of $407.94 and a 200-day moving average of $302.76. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.16 trillion, a price-to-earnings ratio of 177.27, a PEG ratio of 6.79 and a beta of 2.34. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. On average, equities research analysts forecast that Tesla, Inc. will post 2.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Wedbush increased their target price on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a report on Thursday, October 24th. Morgan Stanley increased their price objective on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, HSBC restated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $322.29.

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.