Sowell Financial Services LLC Sells 302 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sowell Financial Services LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,438 shares of the electric vehicle producer’s stock after selling 302 shares during the period. Sowell Financial Services LLC’s holdings in Tesla were worth $11,888,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB boosted its position in shares of Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after buying an additional 194,796 shares during the period. Source Financial Advisors LLC grew its position in shares of Tesla by 17.3% during the 3rd quarter. Source Financial Advisors LLC now owns 2,104 shares of the electric vehicle producer’s stock worth $550,000 after buying an additional 310 shares during the period. AEGON ASSET MANAGEMENT UK Plc grew its position in shares of Tesla by 0.9% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 233,261 shares of the electric vehicle producer’s stock worth $61,014,000 after buying an additional 2,163 shares during the period. Finally, Equitable Trust Co. increased its stake in shares of Tesla by 78.7% in the 3rd quarter. Equitable Trust Co. now owns 8,950 shares of the electric vehicle producer’s stock valued at $2,342,000 after acquiring an additional 3,943 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 422,452 shares of company stock worth $153,659,530 in the last quarter. 20.70% of the stock is owned by insiders.

Tesla Price Performance

TSLA stock opened at $262.67 on Friday. The firm has a 50 day simple moving average of $367.78 and a two-hundred day simple moving average of $318.71. The stock has a market cap of $844.88 billion, a PE ratio of 128.76, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. 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 (NASDAQ:TSLA) last released 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 net margin of 7.26% and a return on equity of 10.31%. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Morgan Stanley reaffirmed a “top pick” rating and issued a $430.00 target price on shares of Tesla in a research report on Monday, March 3rd. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a report on Monday, January 6th. Canaccord Genuity Group boosted their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Mizuho reiterated an “outperform” rating and issued a $515.00 target price on shares of Tesla in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $327.37.

Tesla 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.