Sandbox Financial Partners LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Sandbox Financial Partners LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 739 shares of the electric vehicle producer’s stock after selling 232 shares during the quarter. Sandbox Financial Partners LLC’s holdings in Tesla were worth $298,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSLA. World Investment Advisors LLC increased its position in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after acquiring an additional 184,459 shares during the period. Destination Wealth Management grew its stake in Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd raised its position in Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after buying an additional 9,919 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after buying an additional 1,741 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 3.1 %

Shares of NASDAQ:TSLA opened at $426.50 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm’s 50-day simple moving average is $389.94 and its 200-day simple moving average is $288.78. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a market cap of $1.37 trillion, a price-to-earnings ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TSLA shares. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Canaccord Genuity Group increased their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada lifted their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $299.33.

Insiders Place Their Bets

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was 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 in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock valued at $213,451,751 in the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Company 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.