SP Asset Management LLC Sells 80 Shares of Tesla, Inc. (NASDAQ:TSLA)

SP Asset Management LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,160 shares of the electric vehicle producer’s stock after selling 80 shares during the period. SP Asset Management LLC’s holdings in Tesla were worth $2,891,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TSLA. Ethos Financial Group LLC boosted its position in Tesla by 331.3% in the 4th quarter. Ethos Financial Group LLC now owns 4,986 shares of the electric vehicle producer’s stock valued at $2,014,000 after buying an additional 3,830 shares during the period. Lindbrook Capital LLC boosted its position in Tesla by 5.3% in the 4th quarter. Lindbrook Capital LLC now owns 15,839 shares of the electric vehicle producer’s stock valued at $6,396,000 after buying an additional 793 shares during the period. Carmel Capital Partners LLC boosted its position in Tesla by 3.1% in the 4th quarter. Carmel Capital Partners LLC now owns 11,075 shares of the electric vehicle producer’s stock valued at $4,473,000 after buying an additional 338 shares during the period. Washington Trust Advisors Inc. boosted its position in Tesla by 67.5% in the 4th quarter. Washington Trust Advisors Inc. now owns 3,503 shares of the electric vehicle producer’s stock valued at $1,415,000 after buying an additional 1,412 shares during the period. Finally, Townsend Asset Management Corp NC ADV purchased a new stake in Tesla in the 4th quarter valued at about $223,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TSLA. Piper Sandler boosted their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $365.00 price target on shares of Tesla in a research report on Wednesday, January 29th. Stifel Nicolaus lowered their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a sell rating, twelve have given 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, the company has an average rating of “Hold” and an average target price of $313.15.

Tesla Stock Down 5.6 %

NASDAQ:TSLA opened at $263.45 on Friday. The firm has a market capitalization of $847.39 billion, a P/E ratio of 129.14, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company’s fifty day moving average price is $371.15 and its 200-day moving average price is $317.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’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 sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 422,452 shares of company stock worth $153,659,530 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

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.