Davies Financial Advisors Inc. Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Davies Financial Advisors Inc. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,672 shares of the electric vehicle producer’s stock after selling 928 shares during the period. Tesla comprises 0.9% of Davies Financial Advisors Inc.’s holdings, making the stock its 26th largest holding. Davies Financial Advisors Inc.’s holdings in Tesla were worth $1,079,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TSLA. Rezny Wealth Management Inc. purchased a new stake in shares of Tesla during the fourth quarter worth about $1,721,000. Ballentine Partners LLC grew its position in Tesla by 31.6% during the 4th quarter. Ballentine Partners LLC now owns 37,447 shares of the electric vehicle producer’s stock worth $15,123,000 after purchasing an additional 8,992 shares during the last quarter. ZWJ Investment Counsel Inc. increased its stake in Tesla by 2.2% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 7,729 shares of the electric vehicle producer’s stock valued at $3,121,000 after purchasing an additional 165 shares in the last quarter. Pure Financial Advisors LLC raised its holdings in shares of Tesla by 2.5% in the fourth quarter. Pure Financial Advisors LLC now owns 24,554 shares of the electric vehicle producer’s stock worth $9,916,000 after buying an additional 599 shares during the last quarter. Finally, Gemmer Asset Management LLC lifted its stake in shares of Tesla by 6.0% during the fourth quarter. Gemmer Asset Management LLC now owns 5,129 shares of the electric vehicle producer’s stock worth $2,071,000 after buying an additional 290 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 617,886 shares of company stock valued at $212,451,751. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $415.11 on Thursday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a market cap of $1.33 trillion, a P/E ratio of 113.73, a P/E/G ratio of 8.60 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $393.38 and its 200-day moving average price is $291.27.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group raised their target price on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Robert W. Baird raised their price target on shares of Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $230.00 to $515.00 in a report on Tuesday, December 17th. Finally, Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $309.48.

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.