Novare Capital Management LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Novare Capital Management LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,409 shares of the electric vehicle producer’s stock after selling 467 shares during the quarter. Novare Capital Management LLC’s holdings in Tesla were worth $973,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hengehold Capital Management LLC raised its stake in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares during the last quarter. Acropolis Investment Management LLC raised its position in Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD lifted its stake in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after acquiring an additional 25 shares during the period. Cora Capital Advisors LLC boosted its holdings in shares of Tesla by 3.6% during the 4th quarter. Cora Capital Advisors LLC now owns 881 shares of the electric vehicle producer’s stock valued at $356,000 after acquiring an additional 31 shares during the last quarter. Finally, Avaii Wealth Management LLC raised its holdings in shares of Tesla by 0.9% during the fourth quarter. Avaii Wealth Management LLC now owns 3,636 shares of the electric vehicle producer’s stock valued at $1,468,000 after purchasing an additional 31 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock valued at $212,451,751 over the last ninety days. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on TSLA shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Truist Financial reiterated a “hold” rating and set a $360.00 price objective on shares of Tesla in a research report on Thursday, January 2nd. Guggenheim reissued a “sell” rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday. 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 research report on Thursday, November 14th. Finally, Canaccord Genuity Group raised their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $313.84.

Tesla Stock Down 2.3 %

NASDAQ TSLA opened at $389.10 on Thursday. The stock has a 50 day moving average price of $401.04 and a 200-day moving average price of $296.63. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market capitalization of $1.25 trillion, a P/E ratio of 106.60, a P/E/G ratio of 8.42 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last issued 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 return on equity of 10.24% and a net margin of 13.07%. As a group, equities analysts predict that Tesla, Inc. will post 2.01 EPS for the current fiscal 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.