Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Concord Wealth Partners

Concord Wealth Partners lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 93.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 103 shares of the electric vehicle producer's stock after selling 1,439 shares during the period. Concord Wealth Partners' holdings in Tesla were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. New Millennium Group LLC boosted its stake in shares of Tesla by 5.0% in the fourth quarter. New Millennium Group LLC now owns 1,201 shares of the electric vehicle producer's stock worth $485,000 after acquiring an additional 57 shares during the period. Clear Creek Financial Management LLC boosted its stake in shares of Tesla by 2.0% in the fourth quarter. Clear Creek Financial Management LLC now owns 12,371 shares of the electric vehicle producer's stock worth $4,996,000 after acquiring an additional 237 shares during the period. Trinity Wealth Management LLC bought a new position in shares of Tesla in the fourth quarter worth about $305,000. Factory Mutual Insurance Co. boosted its stake in shares of Tesla by 16.5% in the fourth quarter. Factory Mutual Insurance Co. now owns 269,400 shares of the electric vehicle producer's stock worth $108,794,000 after acquiring an additional 38,200 shares during the period. Finally, Custom Index Systems LLC purchased a new stake in shares of Tesla in the fourth quarter worth about $308,000. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial boosted their target price on Tesla from $351.00 to $373.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Stifel Nicolaus boosted their target price on Tesla from $411.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Roth Mkm upgraded Tesla from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Wedbush upped their price objective on Tesla from $515.00 to $550.00 and gave the company an "outperform" rating in a research report on Wednesday, January 22nd. Finally, Glj Research restated a "sell" rating and set a $24.86 price objective on shares of Tesla in a research report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, twelve have assigned 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, Tesla has an average rating of "Hold" and a consensus price target of $322.29.

Tesla Stock Down 3.4 %

NASDAQ TSLA traded down $12.70 during midday trading on Friday, hitting $361.62. 69,251,467 shares of the company traded hands, compared to its average volume of 67,880,264. 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 market cap of $1.16 trillion, a PE ratio of 177.27, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company's 50-day simple moving average is $408.27 and its 200-day simple moving average is $303.53. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

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%. As a group, equities research analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company's stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at $36,761,200. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 664,776 shares of company stock valued at $239,746,862. 20.70% of the stock is currently owned by corporate insiders.

About Tesla

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.