Armstrong Advisory Group Inc. Sells 470 Shares of Tesla, Inc. (NASDAQ:TSLA)

Armstrong Advisory Group Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 39.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 708 shares of the electric vehicle producer’s stock after selling 470 shares during the period. Armstrong Advisory Group Inc.’s holdings in Tesla were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. World Investment Advisors LLC raised its holdings in shares of Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares during the period. Destination Wealth Management grew its position in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd grew its position in Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after acquiring an additional 43,685 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake 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 purchasing an additional 1,741 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 3.4 %

NASDAQ:TSLA opened at $413.82 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $385.50 and a 200-day simple moving average of $285.69. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a market capitalization of $1.33 trillion, a P/E ratio of 113.38, a PEG ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock worth $213,451,751 over the last quarter. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TSLA shares. Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $230.00 to $515.00 in a report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Stifel Nicolaus increased their price objective on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Truist Financial reaffirmed a “hold” rating and set a $360.00 target price on shares of Tesla in a research report on Thursday, January 2nd. Finally, Piper Sandler increased their price target on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $299.33.

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.