Forte Capital LLC ADV Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Forte Capital LLC ADV reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,736 shares of the electric vehicle producer’s stock after selling 541 shares during the period. Forte Capital LLC ADV’s holdings in Tesla were worth $5,547,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TSLA. Swedbank AB boosted its position in shares of 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 purchasing an additional 29,669 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Tesla by 34.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after buying an additional 1,059 shares in the last quarter. Osborne Partners Capital Management LLC bought a new position in shares of Tesla during the 3rd quarter worth $229,000. NorthCrest Asset Manangement LLC lifted its position in shares of Tesla by 6.5% during the third quarter. NorthCrest Asset Manangement LLC now owns 8,765 shares of the electric vehicle producer’s stock valued at $2,293,000 after buying an additional 536 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its stake in Tesla by 28.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 990 shares of the electric vehicle producer’s stock worth $259,000 after buying an additional 217 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Wells Fargo & Company increased their price objective on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, January 30th. Finally, Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and upped their price target for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Ten investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $319.57.

Tesla Stock Down 4.7 %

Shares of NASDAQ TSLA opened at $337.80 on Monday. The stock has a 50-day moving average price of $400.17 and a two-hundred day moving average price of $314.04. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 165.59, a PEG ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued 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 net margin of 7.26% and a return on equity of 10.31%. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. 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 523,386 shares of company stock valued at $195,995,200 in the last 90 days. 20.70% of the stock is 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.