Smith Moore & CO. Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Smith Moore & CO. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,884 shares of the electric vehicle producer's stock after selling 1,168 shares during the period. Smith Moore & CO.'s holdings in Tesla were worth $4,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Hurlow Wealth Management Group Inc. bought a new stake in shares of Tesla during the 4th quarter valued at $273,000. Landscape Capital Management L.L.C. boosted its holdings in shares of Tesla by 172.3% during the 4th quarter. Landscape Capital Management L.L.C. now owns 3,967 shares of the electric vehicle producer's stock valued at $1,602,000 after purchasing an additional 2,510 shares during the last quarter. PAX Financial Group LLC increased its holdings in shares of Tesla by 4.1% in the fourth quarter. PAX Financial Group LLC now owns 5,325 shares of the electric vehicle producer's stock worth $2,150,000 after purchasing an additional 211 shares during the last quarter. Astra Wealth Partners LLC bought a new position in Tesla during the fourth quarter valued at approximately $441,000. Finally, Wescott Financial Advisory Group LLC grew its holdings in Tesla by 19.7% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 2,474 shares of the electric vehicle producer's stock valued at $999,000 after buying an additional 407 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of TSLA traded down $27.85 during trading hours on Friday, hitting $239.43. 180,231,397 shares of the stock were exchanged, compared to its average volume of 94,269,783. The stock's 50-day moving average price is $305.98 and its two-hundred day moving average price is $323.56. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market cap of $770.13 billion, a price-to-earnings ratio of 117.37, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 return on equity of 10.31% and a net margin of 7.26%. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on TSLA. Cantor Fitzgerald reissued an "overweight" rating and issued a $425.00 price objective on shares of Tesla in a research note on Thursday. Oppenheimer restated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Monday, February 10th. Truist Financial decreased their price target on shares of Tesla from $373.00 to $280.00 and set a "hold" rating for the company in a report on Thursday. Finally, Barclays boosted their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an "equal weight" rating in a report on Wednesday, January 15th. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $312.65.

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.