Tesla, Inc. (NASDAQ:TSLA) Shares Sold by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,945 shares of the electric vehicle producer’s stock after selling 1,750 shares during the quarter. Tesla makes up approximately 0.6% of GPS Wealth Strategies Group LLC’s holdings, making the stock its 29th biggest holding. GPS Wealth Strategies Group LLC’s holdings in Tesla were worth $4,824,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Tesla by 692.6% during 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 acquiring an additional 187 shares in the last quarter. Mendota Financial Group LLC acquired a new position in shares of Tesla during the 3rd quarter valued at $64,000. Finally, Finley Financial LLC acquired a new position in shares of Tesla during the 4th quarter valued at $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Canaccord Genuity Group lifted their target price on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Piper Sandler lifted their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $322.29.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 664,776 shares of company stock valued at $239,746,862 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 1.0 %

Tesla stock opened at $374.32 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $407.11 and a two-hundred day moving average price of $302.26. The firm has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 183.49, a PEG ratio of 6.79 and a beta of 2.34. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. Sell-side analysts expect that Tesla, Inc. will post 2.82 earnings per share 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.