Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Empower Advisory Group LLC

Empower Advisory Group LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 842,651 shares of the electric vehicle producer's stock after selling 9,923 shares during the period. Tesla accounts for approximately 1.1% of Empower Advisory Group LLC's holdings, making the stock its 24th biggest position. Empower Advisory Group LLC's holdings in Tesla were worth $340,296,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. World Investment Advisors LLC grew its holdings in Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock valued at $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management increased its stake in shares of Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock valued at $3,296,000 after buying an additional 1,359 shares during the period. Stephens Consulting LLC grew its stake in Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after purchasing an additional 891 shares during the last quarter. Vinva Investment Management Ltd grew its stake in Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock valued at $30,593,000 after purchasing an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC grew its stake in Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock valued at $80,944,000 after purchasing an additional 9,919 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TSLA. Truist Financial raised their price target on Tesla from $351.00 to $373.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. StockNews.com cut Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Stifel Nicolaus cut their price objective on Tesla from $492.00 to $474.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Barclays boosted their price target on Tesla from $270.00 to $325.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $440.00 target price on shares of Tesla in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $326.50.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 5,400 shares of the company's stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock worth $195,995,200 in the last quarter. Corporate insiders own 20.70% of the company's stock.

Tesla Trading Down 4.7 %

Shares of TSLA stock traded down $16.60 on Friday, hitting $337.80. The stock had a trading volume of 73,720,762 shares, compared to its average volume of 75,434,742. The firm has a market cap of $1.09 trillion, a P/E ratio of 165.59, a PEG ratio of 5.97 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a fifty day moving average price of $402.14 and a two-hundred day moving average price of $311.43.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results 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 net margin of 7.26% and a return on equity of 10.31%. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.