Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Fernwood Investment Management LLC

Fernwood Investment Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.7% during the fourth quarter, Holdings Channel reports. The firm owned 5,991 shares of the electric vehicle producer’s stock after selling 717 shares during the period. Tesla makes up approximately 0.8% of Fernwood Investment Management LLC’s investment portfolio, making the stock its 29th largest position. Fernwood Investment Management LLC’s holdings in Tesla were worth $2,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Destination Wealth Management lifted its holdings in shares of 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 purchasing an additional 1,359 shares during the last quarter. Stephens Consulting LLC increased its holdings in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after acquiring an additional 891 shares during the period. Worth Asset Management LLC boosted its stake in Tesla by 383.1% during the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer’s stock worth $3,358,000 after purchasing an additional 6,593 shares during the period. Strategic Family Wealth Counselors L.L.C. raised its holdings in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after buying an additional 1,629 shares during the last quarter. Finally, Ameritas Advisory Services LLC boosted its stake in shares of Tesla by 104.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock worth $23,242,000 after buying an additional 29,458 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 4.9 %

Tesla stock opened at $221.86 on Wednesday. The firm has a market capitalization of $713.62 billion, a P/E ratio of 108.76, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a 50-day simple moving average of $295.83 and a 200-day simple moving average of $323.34. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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 net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on TSLA shares. Bank of America reduced their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. The Goldman Sachs Group cut their price objective on shares of Tesla from $320.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Truist Financial lowered their target price on shares of Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a report on Thursday, April 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Monday, February 10th. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $305.31.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 370,228 shares of company stock valued at $122,791,123 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

Tesla 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.