Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Laffer Tengler Investments Inc.

Laffer Tengler Investments Inc. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,639 shares of the electric vehicle producer’s stock after selling 885 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Tesla were worth $4,700,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the third quarter worth about $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the fourth quarter worth about $46,000. PayPay Securities Corp boosted its holdings in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter worth about $35,000. Finally, Finley Financial LLC acquired a new position in shares of Tesla in the fourth quarter worth about $64,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 422,386 shares of company stock valued at $153,916,675 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Up 2.6 %

Shares of Tesla stock opened at $279.10 on Thursday. The firm has a market capitalization of $897.73 billion, a PE ratio of 136.81, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company’s fifty day moving average price is $374.97 and its two-hundred day moving average price is $318.13. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley reiterated a “top pick” rating and issued a $430.00 target price on shares of Tesla in a report on Monday. Jefferies Financial Group raised their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Canaccord Genuity Group raised their price target on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Piper Sandler raised their price target on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $315.33.

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.