Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Mark Sheptoff Financial Planning LLC

Mark Sheptoff Financial Planning LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,523 shares of the electric vehicle producer’s stock after selling 71 shares during the period. Tesla comprises approximately 2.3% of Mark Sheptoff Financial Planning LLC’s investment portfolio, making the stock its 13th biggest position. Mark Sheptoff Financial Planning LLC’s holdings in Tesla were worth $4,250,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TSLA. Morey & Quinn Wealth Partners LLC acquired a new stake in shares of Tesla during the 4th quarter valued at $1,232,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Tesla during the 4th quarter worth $3,958,000. BG Investment Services Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at about $775,000. Wambolt & Associates LLC lifted its holdings in shares of Tesla by 6.6% during the fourth quarter. Wambolt & Associates LLC now owns 2,772 shares of the electric vehicle producer’s stock worth $1,119,000 after buying an additional 172 shares during the last quarter. Finally, Momentous Wealth Management Inc. acquired a new position in Tesla during the 4th quarter valued at $258,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TSLA shares. Royal Bank of Canada lowered their price target on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Piper Sandler decreased their price objective on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and raised their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research report on Monday, January 6th. Finally, Mizuho lowered their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $318.93.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of Tesla 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 in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by company insiders.

Tesla Trading Up 3.4 %

TSLA opened at $287.95 on Wednesday. The company has a market capitalization of $926.20 billion, a P/E ratio of 141.15, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $330.52 and its two-hundred day moving average is $322.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current 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.