Empower Advisory Group LLC Sells 9,923 Shares of Tesla, Inc. (NASDAQ:TSLA)

Empower Advisory Group LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 842,651 shares of the electric vehicle producer’s stock after selling 9,923 shares during the period. Tesla comprises 1.1% of Empower Advisory Group LLC’s holdings, making the stock its 24th biggest holding. Empower Advisory Group LLC’s holdings in Tesla were worth $340,296,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB lifted its position in shares of Tesla by 2.8% in the 3rd 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 period. Courier Capital LLC purchased a new position in shares of Tesla in the third quarter worth $262,000. Wallington Asset Management LLC purchased a new position in shares of Tesla in the third quarter worth $280,000. RAM Investment Partners LLC raised its holdings in shares of Tesla by 1.4% in the third quarter. RAM Investment Partners LLC now owns 4,108 shares of the electric vehicle producer’s stock worth $1,075,000 after buying an additional 58 shares during the last quarter. Finally, McAdam LLC raised its holdings in shares of Tesla by 1.4% in the third quarter. McAdam LLC now owns 7,232 shares of the electric vehicle producer’s stock worth $1,892,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla 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 completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TSLA. Barclays raised their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. increased their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Benchmark started coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective on the stock. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, Mizuho reiterated an “outperform” rating and issued a $515.00 price objective on shares of Tesla in a research note on Thursday, January 30th. Nine 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $326.50.

Tesla Stock Performance

NASDAQ:TSLA opened at $354.40 on Friday. The company’s 50-day moving average price is $402.14 and its 200-day moving average price is $311.43. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.14 trillion, a P/E ratio of 173.73, a P/E/G ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly 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%. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.