OneDigital Investment Advisors LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

OneDigital Investment Advisors LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,276 shares of the electric vehicle producer’s stock after selling 7,054 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Tesla were worth $15,054,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Destination Wealth Management raised its stake in Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after acquiring an additional 1,359 shares during the period. Stephens Consulting LLC increased its stake in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after purchasing an additional 891 shares in the last quarter. Worth Asset Management LLC raised its position in shares of Tesla by 383.1% during the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer’s stock valued at $3,358,000 after purchasing an additional 6,593 shares during the period. Strategic Family Wealth Counselors L.L.C. lifted its stake in shares of Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after buying an additional 1,629 shares in the last quarter. Finally, Ameritas Advisory Services LLC boosted its holdings in Tesla by 104.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock worth $23,242,000 after buying an additional 29,458 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TSLA shares. Mizuho decreased their price target on Tesla from $430.00 to $375.00 and set an “outperform” rating on the stock in a report on Thursday, April 10th. Cowen raised Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Benchmark dropped their price target on Tesla from $475.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Nine investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $292.18.

Tesla Stock Performance

Tesla stock opened at $241.17 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market capitalization of $775.71 billion, a PE ratio of 118.22, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a 50 day moving average price of $273.93 and a 200-day moving average price of $323.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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 analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock worth $123,791,123 in the last three months. Corporate insiders own 20.70% of the company’s stock.

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.