Goldstone Financial Group LLC Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Goldstone Financial Group LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,345 shares of the electric vehicle producer’s stock after selling 252 shares during the quarter. Goldstone Financial Group LLC’s holdings in Tesla were worth $2,562,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TSLA. Sterling Financial Group Inc. raised its holdings in shares of Tesla by 6.1% in the 4th quarter. Sterling Financial Group Inc. now owns 2,694 shares of the electric vehicle producer’s stock valued at $1,088,000 after buying an additional 156 shares during the period. Decker Retirement Planning Inc. purchased a new stake in Tesla during the fourth quarter worth about $4,532,000. StoneCrest Wealth Management Inc. acquired a new stake in shares of Tesla during the fourth quarter worth about $218,000. Kraematon Investment Advisors Inc. purchased a new position in shares of Tesla in the fourth quarter valued at approximately $219,000. Finally, Empirical Asset Management LLC grew its holdings in shares of Tesla by 1,739.1% in the fourth quarter. Empirical Asset Management LLC now owns 58,282 shares of the electric vehicle producer’s stock valued at $23,537,000 after purchasing an additional 55,113 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Piper Sandler boosted their target price on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Stifel Nicolaus increased their price target on Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Canaccord Genuity Group boosted their price objective on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their price target on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $299.33.

Tesla Stock Performance

Shares of TSLA opened at $426.50 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a P/E/G ratio of 6.53 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. The company’s fifty day moving average is $389.94 and its two-hundred day moving average is $288.09.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock worth $213,451,751 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

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.