Pacific Sun Financial Corp Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Pacific Sun Financial Corp reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,096 shares of the electric vehicle producer’s stock after selling 280 shares during the quarter. Tesla makes up 1.8% of Pacific Sun Financial Corp’s portfolio, making the stock its 9th biggest position. Pacific Sun Financial Corp’s holdings in Tesla were worth $3,269,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TSLA. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla during the fourth quarter worth $46,000. PayPay Securities Corp raised its stake in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the sale, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 over the last 90 days. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on TSLA. The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research report on Monday, February 10th. Barclays increased their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Bank of America cut Tesla from a “buy” rating to a “neutral” rating and increased their target price for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $319.57.

Tesla Trading Down 4.7 %

NASDAQ TSLA opened at $337.80 on Monday. The firm has a market cap of $1.09 trillion, a P/E ratio of 165.59, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock’s 50-day moving average is $400.17 and its 200-day moving average is $314.04. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla 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.