HBK Sorce Advisory LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

HBK Sorce Advisory LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,356 shares of the electric vehicle producer’s stock after selling 252 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Tesla were worth $9,028,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TSLA. Swedbank AB increased its position in Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after buying an additional 29,669 shares during the last quarter. Principal Financial Group Inc. increased its position 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 worth $955,052,000 after buying an additional 194,796 shares during the last quarter. United Bank purchased a new stake in Tesla in the third quarter worth $287,000. Ashton Thomas Private Wealth LLC increased its position in Tesla by 9.3% in the third quarter. Ashton Thomas Private Wealth LLC now owns 4,980 shares of the electric vehicle producer’s stock worth $1,303,000 after buying an additional 423 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Tesla in the third quarter worth $610,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,228 shares of company stock worth $166,849,043. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 7.6 %

TSLA opened at $248.09 on Thursday. The company has a market cap of $797.99 billion, a P/E ratio of 121.61, a P/E/G ratio of 5.86 and a beta of 2.50. The business’s 50-day moving average price is $357.29 and its 200-day moving average price is $319.03. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TSLA. Bank of America reduced their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Mizuho reiterated an “outperform” rating and issued a $515.00 price target on shares of Tesla in a research report on Thursday, January 30th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. reduced their price target on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday. Nine investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $325.81.

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.