First Horizon Advisors Inc. Grows Position in Tesla, Inc. (NASDAQ:TSLA)

First Horizon Advisors Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,685 shares of the electric vehicle producer’s stock after purchasing an additional 345 shares during the quarter. First Horizon Advisors Inc.’s holdings in Tesla were worth $5,123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TSLA. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter valued at about $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the 4th quarter valued at about $46,000. PayPay Securities Corp grew its position in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter valued at about $35,000. Finally, Finley Financial LLC acquired a new position in Tesla in the 4th quarter valued at about $64,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 over the last 90 days. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $330.53 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a 50 day moving average of $397.52 and a two-hundred day moving average of $314.96. The stock has a market cap of $1.06 trillion, a P/E ratio of 162.03, a P/E/G 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research reports. Piper Sandler lifted their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Wedbush set a $328.50 target price on Tesla in a research report on Wednesday, February 12th. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Ten research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $319.57.

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.