MONECO Advisors LLC Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

MONECO Advisors LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 6.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,001 shares of the electric vehicle producer’s stock after selling 778 shares during the period. MONECO Advisors LLC’s holdings in Tesla were worth $4,846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new stake in Tesla during the third quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla during the fourth quarter worth about $46,000. PayPay Securities Corp increased its holdings in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after buying an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 8.4 %

Shares of Tesla stock opened at $302.80 on Wednesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a market cap of $973.96 billion, a PE ratio of 148.43, a PEG 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 company has a 50 day simple moving average of $393.98 and a two-hundred day simple moving average of $315.69.

Tesla (NASDAQ:TSLA) last announced its 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%. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $27,590,250.00. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TSLA shares. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Monday, February 10th. Evercore ISI raised their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Truist Financial raised their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Wells Fargo & Company raised their price objective on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, January 30th. Finally, Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $319.57.

Tesla Company 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.