Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Delta Financial Group Inc.

Delta Financial Group Inc. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,893 shares of the electric vehicle producer’s stock after selling 462 shares during the quarter. Delta Financial Group Inc.’s holdings in Tesla were worth $1,976,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the 3rd quarter worth approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the 4th quarter worth approximately $46,000. PayPay Securities Corp lifted its holdings in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its holdings 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 worth $56,000 after acquiring an additional 187 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock worth $195,995,200 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research note on Tuesday, February 18th. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Jefferies Financial Group upped their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Ten research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $319.57.

Tesla Stock Down 8.4 %

Shares of NASDAQ:TSLA opened at $302.80 on Wednesday. The stock has a market cap of $973.96 billion, a P/E ratio of 148.43, a P/E/G ratio of 5.86 and a beta of 2.34. The firm has a fifty day moving average price of $393.98 and a 200 day moving average price of $315.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.