Madrona Financial Services LLC Sells 5,750 Shares of Tesla, Inc. (NASDAQ:TSLA)

Madrona Financial Services LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 67.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,729 shares of the electric vehicle producer's stock after selling 5,750 shares during the period. Madrona Financial Services LLC's holdings in Tesla were worth $1,102,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Smith Thornton Advisors LLC bought a new stake in shares of Tesla in the 2nd quarter worth approximately $233,000. Beaird Harris Wealth Management LLC lifted its stake in Tesla by 60.4% in the second quarter. Beaird Harris Wealth Management LLC now owns 2,181 shares of the electric vehicle producer's stock worth $432,000 after purchasing an additional 821 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its position in Tesla by 40.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 140,155 shares of the electric vehicle producer's stock valued at $27,734,000 after buying an additional 40,633 shares during the period. Sepio Capital LP lifted its stake in shares of Tesla by 19.9% in the 2nd quarter. Sepio Capital LP now owns 57,907 shares of the electric vehicle producer's stock valued at $11,459,000 after acquiring an additional 9,626 shares during the last quarter. Finally, Kathmere Capital Management LLC boosted its holdings in Tesla by 5.9% during the 2nd quarter. Kathmere Capital Management LLC now owns 1,247 shares of the electric vehicle producer's stock valued at $247,000 after acquiring an additional 70 shares during the period. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TSLA. Guggenheim boosted their price objective on Tesla from $156.00 to $175.00 and gave the company a "sell" rating in a research report on Thursday, December 5th. Stifel Nicolaus upped their price target on shares of Tesla from $411.00 to $492.00 and gave the company a "buy" rating in a report on Monday, January 6th. Canaccord Genuity Group raised their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Jefferies Financial Group upped their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a "hold" rating in a research note on Thursday, November 14th. Finally, Royal Bank of Canada raised their target price on Tesla from $249.00 to $313.00 and gave the stock an "outperform" rating in a research note on Friday, November 15th. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $313.84.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $5.80 during midday trading on Friday, reaching $406.58. 56,102,963 shares of the company's stock traded hands, compared to its average volume of 67,394,624. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market cap of $1.31 trillion, a price-to-earnings ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. The stock has a 50 day moving average of $398.82 and a 200 day moving average of $294.26.

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, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analysts' expectations of $25.47 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is owned by insiders.

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.