Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,823 shares of the electric vehicle producer’s stock after selling 2,136 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Tesla were worth $5,887,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Essex LLC boosted its stake in shares of Tesla by 21.6% during the 4th quarter. Essex LLC now owns 1,093 shares of the electric vehicle producer’s stock worth $441,000 after acquiring an additional 194 shares in the last quarter. Quotient Wealth Partners LLC boosted its position in Tesla by 10.1% during the fourth quarter. Quotient Wealth Partners LLC now owns 11,014 shares of the electric vehicle producer’s stock worth $4,448,000 after purchasing an additional 1,011 shares in the last quarter. Alliance Wealth Advisors LLC acquired a new stake in Tesla in the fourth quarter valued at approximately $326,000. Investment Advisory Services Inc. TX ADV purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $210,000. Finally, Birch Hill Investment Advisors LLC raised its stake in shares of Tesla by 60.5% during the 4th quarter. Birch Hill Investment Advisors LLC now owns 2,333 shares of the electric vehicle producer’s stock worth $942,000 after buying an additional 879 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSLA. Canaccord Genuity Group lifted their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Wedbush boosted their target price on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and raised their price target for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Piper Sandler boosted their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group raised their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $326.50.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 635,776 shares of company stock valued at $231,335,112. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Up 2.4 %

NASDAQ TSLA opened at $336.51 on Thursday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a 50 day moving average of $407.68 and a two-hundred day moving average of $306.23. 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 stock has a market capitalization of $1.08 trillion, a PE ratio of 164.96, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 10.31% and a net margin of 7.26%. As a group, research analysts expect that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

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.