Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Principle Wealth Partners LLC

Principle Wealth Partners LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,165 shares of the electric vehicle producer’s stock after selling 1,944 shares during the quarter. Principle Wealth Partners LLC’s holdings in Tesla were worth $7,336,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Panoramic Capital Partners LLC acquired a new position in shares of Tesla in the 4th quarter valued at about $362,000. International Private Wealth Advisors LLC lifted its holdings in Tesla by 22.6% in the fourth quarter. International Private Wealth Advisors LLC now owns 1,108 shares of the electric vehicle producer’s stock valued at $447,000 after acquiring an additional 204 shares during the period. Arlington Trust Co LLC boosted its position in Tesla by 20.0% in the 4th quarter. Arlington Trust Co LLC now owns 690 shares of the electric vehicle producer’s stock worth $279,000 after purchasing an additional 115 shares in the last quarter. Equitable Trust Co. increased its holdings in shares of Tesla by 13.3% during the 4th quarter. Equitable Trust Co. now owns 10,142 shares of the electric vehicle producer’s stock valued at $4,096,000 after purchasing an additional 1,192 shares in the last quarter. Finally, Bristlecone Advisors LLC lifted its stake in shares of Tesla by 3.9% in the 4th quarter. Bristlecone Advisors LLC now owns 27,904 shares of the electric vehicle producer’s stock valued at $11,269,000 after purchasing an additional 1,048 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Canaccord Genuity Group upped their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays raised their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Truist Financial lifted their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Benchmark began coverage on shares of Tesla in a research report on Wednesday. They set a “buy” rating and a $475.00 price objective for the company. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $326.50.

Tesla Stock Performance

NASDAQ TSLA opened at $355.84 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 company has a market cap 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 $406.98 and a two-hundred day moving average of $306.79. 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 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%. As a group, analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 523,386 shares of company stock worth $195,995,200. Company insiders own 20.70% of the company’s stock.

About Tesla

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.