Ausdal Financial Partners Inc. Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Ausdal Financial Partners Inc. reduced its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,312 shares of the electric vehicle producer's stock after selling 1,289 shares during the quarter. Ausdal Financial Partners Inc.'s holdings in Tesla were worth $8,203,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TSLA. Principal Financial Group Inc. grew its stake in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after acquiring an additional 194,796 shares during the period. United Bank acquired a new stake in Tesla in the 3rd quarter valued at $287,000. Massachusetts Financial Services Co. MA increased its stake in Tesla by 61.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 115,241 shares of the electric vehicle producer's stock valued at $30,151,000 after purchasing an additional 43,950 shares in the last quarter. Algert Global LLC acquired a new position in Tesla during the third quarter worth $3,194,000. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of Tesla in the third quarter valued at $207,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now owns 5,400 shares of the company's stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 in the last quarter. 20.70% of the stock is owned by insiders.

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Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating for the company in a research report on Wednesday, March 12th. HSBC lowered their price objective on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research note on Thursday. Truist Financial lifted their target price on Tesla from $351.00 to $373.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Wedbush reissued an "outperform" rating and issued a $550.00 price target on shares of Tesla in a research report on Thursday. Finally, Roth Capital upgraded shares of Tesla from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $318.34.

Tesla Price Performance

NASDAQ:TSLA traded down $9.68 during trading hours on Friday, hitting $263.45. The stock had a trading volume of 95,058,714 shares, compared to its average volume of 93,054,574. 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, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a market capitalization of $847.39 billion, a price-to-earnings ratio of 128.88, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a 50 day simple moving average of $324.59 and a two-hundred day simple moving average of $321.35.

Tesla (NASDAQ:TSLA - Get Free Report) 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%. Research analysts forecast 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.