AdvisorNet Financial Inc Sells 6,220 Shares of Tesla, Inc. (NASDAQ:TSLA)

AdvisorNet Financial Inc reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,093 shares of the electric vehicle producer's stock after selling 6,220 shares during the period. AdvisorNet Financial Inc's holdings in Tesla were worth $5,691,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Connable Office Inc. increased its stake in shares of Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer's stock worth $3,368,000 after purchasing an additional 38 shares in the last quarter. Community Bank N.A. grew its stake in Tesla by 4.4% in the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer's stock valued at $238,000 after buying an additional 38 shares in the last quarter. Holistic Financial Partners raised its holdings in Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer's stock valued at $1,061,000 after acquiring an additional 40 shares during the period. Sherrill & Hutchins Financial Advisory Inc lifted its position in shares of Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer's stock worth $800,000 after acquiring an additional 43 shares in the last quarter. Finally, Altman Advisors Inc. boosted its holdings in shares of Tesla by 0.4% in the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer's stock worth $2,814,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Down 1.7 %

NASDAQ:TSLA traded down $6.95 during midday trading on Tuesday, reaching $396.36. 83,986,800 shares of the stock traded hands, compared to its average volume of 81,639,867. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 108.59, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a fifty day moving average of $382.71 and a 200 day moving average of $284.69.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analysts' expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla's quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. On average, research analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Oppenheimer reissued a "market perform" rating on shares of Tesla in a report on Tuesday, October 8th. Canaccord Genuity Group increased their price target on shares of Tesla from $298.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Piper Sandler upped their target price on shares of Tesla from $310.00 to $315.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Wedbush reissued an "outperform" rating and issued a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Finally, Barclays upped their price target on shares of Tesla from $220.00 to $235.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $296.60.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company's stock.

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.