Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 7.1% in the 4th quarter, Holdings Channel reports. The fund owned 16,302 shares of the electric vehicle producer’s stock after selling 1,252 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Tesla were worth $6,583,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after acquiring an additional 1,022,589 shares during the period. FMR LLC increased its holdings in shares of Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after purchasing an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after purchasing an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TSLA shares. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Evercore ISI increased their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Truist Financial increased their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and increased their price target for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Finally, UBS Group raised their target price on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a report on Thursday, January 30th. Ten equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $319.57.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 transaction of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA opened at $290.80 on Thursday. The company’s 50 day simple moving average is $390.99 and its 200 day simple moving average is $315.51. 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, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a market capitalization of $935.36 billion, a PE ratio of 142.55, a P/E/G ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.