Bellevue Asset Management LLC Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Bellevue Asset Management LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,438 shares of the electric vehicle producer’s stock after selling 380 shares during the period. Tesla accounts for about 0.5% of Bellevue Asset Management LLC’s holdings, making the stock its 27th biggest position. Bellevue Asset Management LLC’s holdings in Tesla were worth $985,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter worth approximately $29,000. Peterson Financial Group Inc. purchased a new position in shares of Tesla during the third quarter worth approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla during the fourth quarter worth approximately $46,000. PayPay Securities Corp grew its position in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares during the last quarter. Finally, Finley Financial LLC purchased a new position in shares of Tesla during the fourth quarter worth approximately $64,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Piper Sandler increased their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Wedbush reaffirmed an “outperform” rating on shares of Tesla in a report on Friday. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $313.15.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 422,452 shares of company stock worth $153,659,530. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Down 5.6 %

Shares of TSLA stock opened at $263.45 on Friday. The stock has a market cap of $847.39 billion, a P/E ratio of 129.14, a P/E/G ratio of 5.86 and a beta of 2.50. The business has a fifty day simple moving average of $371.15 and a 200-day simple moving average of $317.75. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

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

About Tesla

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.