Aspen Wealth Strategies LLC Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

Aspen Wealth Strategies LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,117 shares of the electric vehicle producer’s stock after selling 148 shares during the quarter. Aspen Wealth Strategies LLC’s holdings in Tesla were worth $855,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hengehold Capital Management LLC increased its holdings in Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares during the last quarter. Strategic Investment Advisors MI boosted its stake in Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after acquiring an additional 24 shares during the period. Acropolis Investment Management LLC boosted its stake in Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after acquiring an additional 25 shares during the period. Mount Vernon Associates Inc. MD boosted its stake in Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after acquiring an additional 25 shares during the period. Finally, Vista Finance LLC boosted its stake in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TSLA shares. UBS Group decreased their target price on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research note on Monday, March 10th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and lifted their target price for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Truist Financial lifted their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $323.00.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the 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 transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 in the last three months. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

NASDAQ TSLA opened at $238.01 on Tuesday. The stock has a market capitalization of $765.56 billion, a P/E ratio of 116.67, a P/E/G 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 business’s fifty day moving average is $347.85 and its two-hundred day moving average is $320.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last posted 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, research 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.