Sageworth Trust Co Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sageworth Trust Co decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,311 shares of the electric vehicle producer's stock after selling 2,479 shares during the quarter. Tesla comprises 0.4% of Sageworth Trust Co's holdings, making the stock its 20th biggest position. Sageworth Trust Co's holdings in Tesla were worth $5,779,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the 3rd quarter valued at $35,000. Finley Financial LLC purchased a new stake in shares of Tesla in the 4th quarter valued at $64,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer's stock valued at $56,000 after acquiring an additional 187 shares during the last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of Tesla in the 4th quarter valued at $91,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares of the company's stock, valued at approximately $37,226,491.76. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 523,386 shares of company stock worth $195,995,200. Insiders own 20.70% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on TSLA shares. Phillip Securities downgraded shares of Tesla from a "moderate sell" rating to a "strong sell" rating in a report on Wednesday, November 13th. Bank of America downgraded shares of Tesla from a "buy" rating to a "neutral" rating and upped their price objective for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. The Goldman Sachs Group increased their price target on shares of Tesla from $250.00 to $345.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. Royal Bank of Canada reissued an "outperform" rating and set a $440.00 price target on shares of Tesla in a report on Thursday, January 30th. Finally, Robert W. Baird lowered their price target on shares of Tesla from $480.00 to $440.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $326.50.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $0.10 during mid-day trading on Friday, reaching $355.84. The company's stock had a trading volume of 68,000,576 shares, compared to its average volume of 67,880,264. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market capitalization of $1.14 trillion, a P/E ratio of 174.43, a P/E/G ratio of 6.22 and a beta of 2.34. The stock has a 50-day moving average of $406.31 and a two-hundred day moving average of $307.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts anticipate that Tesla, Inc. will post 2.54 EPS 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.