Magnus Financial Group LLC Sells 673 Shares of Tesla, Inc. (NASDAQ:TSLA)

Magnus Financial Group LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,640 shares of the electric vehicle producer's stock after selling 673 shares during the quarter. Tesla comprises approximately 0.9% of Magnus Financial Group LLC's holdings, making the stock its 24th largest position. Magnus Financial Group LLC's holdings in Tesla were worth $9,143,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. World Investment Advisors LLC grew its holdings in shares of Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock worth $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Destination Wealth Management lifted its stake in 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 in the last quarter. Vinva Investment Management Ltd boosted its holdings in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock worth $30,593,000 after buying an additional 43,685 shares during the period. MML Investors Services LLC increased its position in shares of Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock worth $80,944,000 after acquiring an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer's stock valued at $37,801,000 after acquiring an additional 1,741 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of Tesla stock traded down $5.80 on Friday, reaching $406.58. The stock had a trading volume of 56,102,963 shares, 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. The business's 50-day moving average price is $398.82 and its two-hundred day moving average price is $294.03. The stock has a market cap of $1.31 trillion, a P/E ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business's revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 2.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Truist Financial reiterated a "hold" rating and set a $360.00 price objective on shares of Tesla in a research report on Thursday, January 2nd. HSBC reiterated a "reduce" rating and set a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Roth Capital raised Tesla from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Mizuho raised Tesla from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. Finally, Piper Sandler increased their price target on shares of Tesla from $315.00 to $500.00 and gave the stock an "overweight" rating in a research report on Tuesday. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $313.84.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company's stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 617,886 shares of company stock valued at $212,451,751. 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.