Paces Ferry Wealth Advisors LLC Sells 438 Shares of Tesla, Inc. (NASDAQ:TSLA)

Paces Ferry Wealth Advisors LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,819 shares of the electric vehicle producer’s stock after selling 438 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in Tesla were worth $1,542,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Swedbank AB increased its position in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the last quarter. United Bank purchased a new stake in shares of Tesla during the 3rd quarter valued at $287,000. Advisors Asset Management Inc. lifted its holdings in shares of Tesla by 0.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 8,972 shares of the electric vehicle producer’s stock worth $2,347,000 after acquiring an additional 80 shares during the last quarter. Finally, Integrated Investment Consultants LLC purchased a new position in Tesla in the third quarter worth $280,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 5.3 %

NASDAQ:TSLA opened at $248.71 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm’s 50-day moving average price is $335.19 and its 200-day moving average price is $320.44. The company has a market capitalization of $799.98 billion, a PE ratio of 121.92, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TSLA shares. Truist Financial lifted their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Wells Fargo & Company reduced their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Guggenheim lowered their price objective on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a report on Wednesday, March 12th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $318.93.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by corporate insiders.

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.