Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Cable Hill Partners LLC

Cable Hill Partners LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 19.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,004 shares of the electric vehicle producer’s stock after selling 242 shares during the quarter. Cable Hill Partners LLC’s holdings in Tesla were worth $405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB raised its position in Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares during the period. Foundation Wealth Management LLC purchased a new position in Tesla in the third quarter valued at about $225,000. JFS Wealth Advisors LLC raised its position in Tesla by 75.1% in the third quarter. JFS Wealth Advisors LLC now owns 2,014 shares of the electric vehicle producer’s stock valued at $527,000 after purchasing an additional 864 shares during the period. HM Payson & Co. raised its position in Tesla by 16.7% in the third quarter. HM Payson & Co. now owns 4,624 shares of the electric vehicle producer’s stock valued at $1,210,000 after purchasing an additional 662 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC raised its position in Tesla by 21.6% in the third quarter. Baron Silver Stevens Financial Advisors LLC now owns 3,773 shares of the electric vehicle producer’s stock valued at $987,000 after purchasing an additional 671 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $293.33 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a market capitalization of $943.49 billion, a price-to-earnings ratio of 143.79, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The business has a 50 day simple moving average of $385.35 and a 200 day simple moving average of $315.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and raised their price objective for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Barclays boosted their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Truist Financial boosted their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $365.00 price target on shares of Tesla in a research note on Wednesday, January 29th. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $318.77.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the 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 completion of the transaction, the director now directly owns 1,463,220 shares of the company’s stock, 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. Insiders sold 523,386 shares of company stock valued at $195,995,200 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

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.