Burr Financial Services LLC Sells 8,390 Shares of Tesla, Inc. (NASDAQ:TSLA)

Burr Financial Services LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 22.2% in the fourth quarter, HoldingsChannel reports. The firm owned 29,419 shares of the electric vehicle producer’s stock after selling 8,390 shares during the period. Tesla makes up about 8.0% of Burr Financial Services LLC’s portfolio, making the stock its 2nd largest position. Burr Financial Services LLC’s holdings in Tesla were worth $11,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MinichMacGregor Wealth Management LLC grew its stake in shares of Tesla by 14.8% in the 4th quarter. MinichMacGregor Wealth Management LLC now owns 4,551 shares of the electric vehicle producer’s stock valued at $1,838,000 after buying an additional 586 shares during the period. Raleigh Capital Management Inc. grew its stake in Tesla by 41.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 5,035 shares of the electric vehicle producer’s stock valued at $2,033,000 after acquiring an additional 1,474 shares during the period. D.B. Root & Company LLC increased its holdings in shares of Tesla by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 4,135 shares of the electric vehicle producer’s stock valued at $1,670,000 after acquiring an additional 41 shares in the last quarter. Echo45 Advisors LLC lifted its holdings in shares of Tesla by 3.7% in the 4th quarter. Echo45 Advisors LLC now owns 1,240 shares of the electric vehicle producer’s stock worth $509,000 after purchasing an additional 44 shares in the last quarter. Finally, True North Advisors LLC grew its position in Tesla by 3.8% in the 4th quarter. True North Advisors LLC now owns 3,468 shares of the electric vehicle producer’s stock valued at $1,400,000 after purchasing an additional 127 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TSLA shares. Morgan Stanley raised their price objective on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Canaccord Genuity Group upped their price target on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Canaccord Genuity Group raised their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their target price on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and raised their price target for the company from $230.00 to $515.00 in a research report on Tuesday, December 17th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $313.84.

Tesla Price Performance

TSLA opened at $406.58 on Friday. The stock has a market capitalization of $1.31 trillion, a P/E ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a 50-day moving average price of $398.82 and a 200-day moving average price of $294.03.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping 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 firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the firm posted $0.53 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock valued at $212,451,751 over the last three months. 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.